Template-Type: ReDIF-Paper 1.0

Author-Name: Lutz G. Arnold
Author-X-Name-First: Lutz G.
Author-X-Name-Last: Arnold

Author-Name: Benedikt Booker
Author-X-Name-First: Benedikt 
Author-X-Name-Last: Booker

Title: Good Intentions Pave the Way to ... the Local Moneylender
	
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.

Length:  9 pages
Creation-Date:  2012-09
File-URL: http://www.bgpe.de/texte/DP/126_ArnoldBooker.pdf
File-Format: Application/pdf
File-Function: First version, 2012
Number: 126
Classification-JEL: G21, D91
Keywords: microfinance, hyperbolic discounting
Handle: RePEc:bav:wpaper:126_ArnoldBooker