Few microfinance-funded businesses grow beyond subsistence entrepreneurship. This paper considers one possible explanation: that the structure of existing microfinance contracts may discourage risky but high-expected return investments. To explore this possibility, I develop a theory that...

This study models and examines how changes in marketing information affects the degree of investor's risk aversion, and in turn, influences investor's decision-makings process under uncertainty. Under the mixed assumptions, the theoretical evidence in this study indicates that cumulative...