Counselling agencies assist borrowers in financial difficulties by administering repayment plans, the so-called debt management plans (DMPs).  In this paper, we use unique administrative data from a major credit counselling agency in the UK to analyze the determinants of debt repayment...

Height is the result of a complex process of growth that begins at birth and reaches the end in early adulthood.  This paper studies the determinants of height from birth to maturity.  A height production function is specified whose structure allows height to be the result of the accumulation...

People believe that, even in very large samples, proportions of binary signals might depart significantly from the population mean.  We model this "non-belief in the Law of Large Numbers" by assuming that a person believes that proportions in any given sample might be determined by a rate...

What is the relationship between entrepreneurial saving practices and reinvestment?  We develop a model of entrepreneurial finance and show that entrepreneurial reinvestment decisions depend on the efficiency of saving practices.  Utilizing a novel micro & small enterprise survey from Tanzania...

Rational demand for hedging products, where there is a risk of contractual nonperformance, is fundamentally different to that for indemnity insurance.  In particular, optimal demand is zero for infinitely risk averse individuals, and is nonmonotonic in risk aversion, wealth and price.  For...

This paper analyses collusion-proof multilateral insurance contracts between a risk neutral insurer and multiple risk averse agents in an environment of asymmetric costly state verification.  Optimal contracts involve the group of agents pooling uncertainty and the insurer acting as reinsurer...