Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/73430 
Year of Publication: 
2012
Series/Report no.: 
BGPE Discussion Paper No. 126
Publisher: 
Friedrich-Alexander-Universität Erlangen-Nürnberg, Bavarian Graduate Program in Economics (BGPE), Nürnberg
Abstract: 
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.
Subjects: 
microfinance
hyperbolic discounting
JEL: 
G21
D91
Document Type: 
Working Paper

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