Entrepreneurship is the ability to take significant amount of risk while managing and organizing a new or existing business enterprise with sole motive making profits. Agricultural entrepreneurship, also known as agripreneurship farmers farm firms substantial risks producing, managing, directing marketing their agricultural produce. Agripreneurs are entrepreneurs. Selected social capital variab...

We study, theoretically and empirically, the effort choices of microfinance borrowers under individual liability (IL) joint (JL) contracts when loan repayments are made either privately or publicly. Our theoretical model identifies guilt aversion in a JL contract shame public repayment loans as main psychological drivers choice. Evidence from our lab-in-the-field experiment Pakistan reveals lar...

The literature on microfinance has largely attributed the industry’s success to joint liability and peer monitoring, which are direct results of the group lending methodology. As individual lending has become more common in microfinance, especially in Latin America, we need to revisit the reasons for these successes. This paper uses a dynamic model with endogenously determined repayment incenti...

This paper explores the significance of unobservable default risk in mortgage and automobile loan markets. I develop and estimate a two-period model that allows for heterogeneous forms of simultaneous adverse selection and moral hazard. Controlling for income levels, loan size and risk aversion, I find robust evidence of adverse selection, with borrowers self-selecting into contracts with varyi...

This paper develops a model of group borrowing that incorporates partial group liability, where borrowers are penalized if their group members default but are not held responsible for the entirety of the failed loan. The model illustrates a trade-off of group liability lending: while higher levels of group liability increase within group risk-sharing, if liability is too high, borrowers strateg...

The number of rural health care providers is insufficient to meet the nation's needs, since it is difficult to attract and retain providers (Chamberlain, 2011; Ross, 2013). Rural residents experience multiple health disparities including economic constraints, cultural and educational differences, and isolation, which restrict a healthy life (Winters & Lee, 2013). Nurse Practitioners (NPs) are a...