IS THE CREDIT WORTH IT? FOR‐PROFIT LENDERS IN MICROFINANCE WITH RATIONAL AND BEHAVIORAL BORROWERS

IS THE CREDIT WORTH IT? FOR‐PROFIT LENDERS IN MICROFINANCE WITH RATIONAL AND BEHAVIORAL BORROWERS The bulk of the literature on microcredit has focused on either not‐for‐profit lenders or assumes a perfectly competitive, zero‐profit market equilibrium. Yet the market has experienced a significant shift toward for‐profit lending and the assumptions of perfect competition are likely to be too strong in many locations. We review the state of the literature on for‐profit lending in microcredit, consider its implications for both conventionally ‘rational’ borrowers and for borrowers with behavioral biases, and point out directions for future research. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Annals of Public and Cooperative Economics Wiley

IS THE CREDIT WORTH IT? FOR‐PROFIT LENDERS IN MICROFINANCE WITH RATIONAL AND BEHAVIORAL BORROWERS

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Publisher
Wiley
Copyright
Journal compilation © 2018 CIRIEC
ISSN
1370-4788
eISSN
1467-8292
D.O.I.
10.1111/apce.12189
Publisher site
See Article on Publisher Site

Abstract

The bulk of the literature on microcredit has focused on either not‐for‐profit lenders or assumes a perfectly competitive, zero‐profit market equilibrium. Yet the market has experienced a significant shift toward for‐profit lending and the assumptions of perfect competition are likely to be too strong in many locations. We review the state of the literature on for‐profit lending in microcredit, consider its implications for both conventionally ‘rational’ borrowers and for borrowers with behavioral biases, and point out directions for future research.

Journal

Annals of Public and Cooperative EconomicsWiley

Published: Jan 1, 2018

Keywords: ; ; ; ; ; ;

References

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