This article investigates the impact of credit allocation on heterogeneous wealth entrepreneurs. We show that with … decreasing risk aversion and unobservable wealth, poorer borrowers exert more effort. As a consequence of endogenous adverse … selection, they are either excluded from the market or necessarily subsidize richer borrowers in a pooling equilibrium resulting …

This paper investigates the role of unobservable wealth differences on credit market equilibrium, given there is also …

wieder dem Kräftespiel derjenigen aussetzen, die am Markt Kredite nachfragen und anbieten. Seiner Ansicht nach ist der Markt … als Steuerungsinstrument unverzichtbar. Der Ausweg aus der Staatsschuldenkrise muss deshalb grundsätzlich in »mehr Markt …« und nicht in »weniger Markt« gesucht werden. …

explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing … visionaries like Henry Ford and Steve Jobs; rather, it was driven by millions of people empowered to think of, develop, and market …

explode in some nations between the 1820s and 1960s, creating not just unprecedented material wealth but "flourishing … visionaries like Henry Ford and Steve Jobs; rather, it was driven by millions of people empowered to think of, develop, and market …

/methodology/approach – The concept of intrinsic value is elaborated, and marketization and closely linked concepts such as price, wealth … face great disputes on judging human history as social development or social degradation. Market is not only an objective … development and clarify the possible academic controversies on market. The arguments of China's marketization experience could be …