We conduct the first field experiment of a performance-contingent microfinance contract. A large food multinational … Kenya, we compare asset financing under a traditional debt contract to three alternatives: (i) a novel equity-like financing … contract, (ii) a hybrid debt-equity contract, and (iii) an index-insurance financing contract. Experimental results reveal …

We provide evidence on how two important types of institutions -- dismissal barriers, and bonus pay -- affect contract … negative incentive and efficiency effects of dismissal barriers. Nevertheless, contract enforcement behavior remains … market outcomes are the result of a complex interplay between contract enforcement policies and the institutions in which …

detailed observational data and a large-scale countrywide experiment to examine a large bank's experience with a credit card … period. We use a large-scale randomized experiment on a representative sample of the bank's marginal borrowers to test … whether contract terms affect default. We find that large experimental changes in interest rates and minimum payments do …

enroll in a subsequent commitment contract after the original expires if they receive a nudge for a longer duration initial … contract. Our theoretical analysis of the welfare implications of these effects shows conditions under which nudges can reduce …

We conduct a lab-in-the-field experiment to identify parents' preferences for investing in their children. The … experiment exogenously varied the short-run returns to educational investments to identify how much parents care about maximizing …

versus equal outcomes). In a laboratory experiment, the most common behavioral pattern is for subjects to select the ex ante …

for instrumental purposes. We then present an experiment that tests these ideas in the laboratory and finds support for …

We present a dictator game experiment where the recipients are local charities that serve the poor. Donors consist of … respondents an audiovisual presentation about the recipients. The experiment yields three main findings. First, we find …