Implications of endogenous group formation for efficient risk-sharing
This paper models the implications of endogenous group formation for efficient risk-sharing contracts in the dynamic limited commitment model. Endogenising group formation requires that any risk-sharing arrangement is not only stable with respect to individual deviations but also with respect to de...
| Main Author: | |
|---|---|
| Format: | Working paper |
| Published: |
University of Oxford
2008
|