In recent years, microfinance institutions have expanded into group lending with individual liability, leaving out the joint liability clause which was an important feature in earlier lending contracts. Recent experimental evidence indicates that group lending may yield benefits, specifically...

We investigate within a model of cultural transmission the conditions under which increased social diversity within a population - e.g. due to the inflow of immigrants - raise the potential for conflict as opposed to harmonious social diversity. Drawing on evidence from psychological studies, we...

We investigate within a model of cultural transmission how policies or shocks that affect social diversity within a population affect social cohesion and segregation. We develop the concept of `bridging identity', an individual trait that: (i) positively affects utility in culturally diverse...