“The Impact of Microcredit on the Poor in Bangladesh: Revisiting the Evidence,” by David Roodman and Jonathan Morduch (2014) is the most recent of a sequence of papers and postings that seeks to refute the findings of the Pitt and Khandker (1998) article “The Impact of Group-Based Credit...

Probability weighting functions relate objective probabilities and their subjective weights, and play a central role in modeling choices under risk within cumulative prospect theory. While several different parametric forms have been proposed, their qualitative similarities make it challenging...

Secondary school enrollment rates in the developing countries are usually lower for girls than boys, especially in rural areas. In the mid 1990’s a female school stipend program was introduced to subsidize girls’ secondary education in rural Bangladesh. Although all of rural Bangladesh was...

The specification and estimation of models of consumer and producer demand with kink points are considered. The presence of kink points divides the demand or production schedule into different regimes. Our approach utilizes the concept of virtual prices. The virtual prices transform binding...

In this paper, we demonstrate the difficulties of identifying both the own- and cross-effects of health on the allocation of time within a household, and develop and implement a method for estimating the effects of infant morbidity on the differential allocation of time by other family members...