sharing. Models of informal risk sharing with limited commitment and grim-trigger punishments upon deviation imply that larger …The objective of this paper is to understand and test empirically the relationship between group size and informal risk …

sharing. Models of informal risk sharing with limited commitment and grim-trigger punishments upon deviation imply that larger …The objective of this paper is to understand and test empirically the relationship between group size and informal risk …

. Besides, the risk mitigation provided by informal risk-sharing arrangements is restricted by their inability to protect … that the formal contract may crowd out informal risk-sharing if it is offered to individuals. Second, we find that both …