This article shows that, under the assumption that members share the risk of negative income shocks, rotating savings and credit associations can be sustainable even with simple exponential discounting and without the presence of social norms and sanctioning systems.
Roscas without sanctions
Reito, Francesco
2019-01-01
Abstract
This article shows that, under the assumption that members share the risk of negative income shocks, rotating savings and credit associations can be sustainable even with simple exponential discounting and without the presence of social norms and sanctioning systems.File in questo prodotto:
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