Good Intentions Pave the Way to ... the Local Moneylender
Microborrowers may take usurious loans to repay a loan taken from a micro nance institution because of having neglected the time inconsistency of optimal plans or having discounted future payoffs too strongly from the ex-post perspective. Microfinance programs should strive at preventing such consequences of bounded rationality.
|Date of creation:||Sep 2012|
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