We ask why so few student loan borrowers enroll in Income Driven Repayment when the majority would benefit from doing so. To do so we run an incentivized laboratory experiment using a facsimile of the government's Student Loan Exit Counseling website. We test the role information complexity,...

Purpose The chapter studies strategic default using an experimental approach. Design/methodology/approach The experiment considers a stochastic asset process and a loan with no down-payment. The treatments are two asset volatilities (high and low) and the absence and presence of social...

Microfinance institutes (MFI) have used the individuality scheme for decades however in order to increase the outreach and to overcome the hurdle of non ability of poor individual to provide collateral security joint liability scheme were introduced. Here in the joint liability model the social...