This paper reports on recent research that explores the role of the marriage institution in facilitating economic activity in two urban labor markets: Kisumu, Kenya and Bombay, India. Kin and affine networks, organized around the marriage institution, are shown to improve the individual's labor...

Is capital allocated so that its marginal product is equated to the market interest rate? Is the marginal product of capital equalized across its alternative uses? This paper attempts to answer both of these questions using data from India, and concludes that both these standard properties fail...

This paper analyzes an informal financial institution that brings heterogeneous agents together in groups. We analyze decentralized matching into these groups, and the equilibrium composition of participants that consequently arises. We find that participants sort remarkably well across the...