This paper evaluates the efficacy of two alternative lending technologies - the traditional banking technology and a cash flow based counseling program - by using competing risks (option-based) and choice theoretic approaches. We find evidence to support the notion that low-income borrowers have...

In this paper, peculiarities of the process of development of agricultural biotechnological innovations are considered, in particular the distinction between R&D races for gene discoveries and subsequent competition for developing their marketable applications in the form of genetically modified...