Using a unique dataset we study both the actual and self-perceived relationship between subjective well-being and income comparisons against a wide range of potential comparison groups, enabling us to investigate a broader range of questions than in previous studies. In questions inserted into a...

Few microfinance-funded businesses grow beyond subsistence entrepreneurship. This paper considers one possible explanation: that the structure of existing microfinance contracts may discourage risky but high-expected return investments. To explore this possibility, I develop a theory that...

Building on previous studies on perceptions of inequality, welfare and risk we investigate the structure of individuals' rankings of uncertain prospects in terms of risk and their relationship to individual preferences. We examine three interlinked propositions that are fundamental to the...

Two agents sequentially contracts with different principals under moral hazard. If agents care for one another, the second principal gains by insuring them over first wages. Even with independent tasks, the first principal must offer riskier payments to induce effort.

The purpose of this paper is to identify the organisational comparative advantage of NGOs, and to develop a model which explains the set of circumstances uder which they emerge and dominate other types of firms. It is argued that the potential superiority of NGOs derives from two features: (1)...

In response to a drop in collected funds, charitable associations have implemented a rigorous approach to the target decisions and communication for fundraising. Prior studies have shown that manipulating the scale of donations influences the collection results. This study was carried out within...