have better information about borrowers. We test this by contrasting the use of collateral between formal and – better … than informal lenders, controlling for conventional determinants of collateral. Moreover, having better information about … informal lenders rely less on collateral with shorter distance to the borrower. …

The present complexity approach is based on two assumptions: A1: measurability of deviations of outcomes with respect … to reference values; A2 : extension of A1 to multi-set analysis. Complexity is then defined in terms of multi …-set deviation compared to single-set ones; an interpretation is given in terms of information costs; examples show the relevance of …

characterization of its dynamics becomes almost trivial when it is analyzed from the perspective of infor-mation production. Whether …