Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/73430
Authors: 
Arnold, Lutz G.
Booker, Benedikt
Year of Publication: 
2012
Series/Report no.: 
BGPE Discussion Paper 126
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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