We present a simple two-period, dual-economy model in which migration options may affect the informal financing of educational investments. When credit contracts are universally available and perfectly enforceable, spatially varied returns to human capital have no effect on educational...

We model inter-household transfers between nomadic livestock herders as the state-dependent consequence of individuals' strategic interdependence, resulting from the existence of multiple, opposing externalities-more specifically, a public-good security externality among individuals sharing a...