Hyperbolic discounting and uniform savings floors
نویسندگان
چکیده
منابع مشابه
Hyperbolic discounting and the sustainability of rotational savings arrangements
People across the developing world join rotational savings and credit associations (roscas) to fund repeated purchases of nondivisible goods. When the scope for punishment is weak, there is a natural question about why agents do not defect from these groups. I model a rosca as a commitment savings device for hyperbolic discounters. Roscas are attractive for two reasons: the possibility of getti...
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ژورنال
عنوان ژورنال: Journal of Public Economics
سال: 2008
ISSN: 0047-2727
DOI: 10.1016/j.jpubeco.2008.03.008