Purpose – The purpose of this paper is to analyze a market for microfinance in a region of a developing nation in which all projects are either of high or low quality. There is adverse selection because only borrowers know whether their project is of high or low quality but the microfinance...

Purpose – The purpose of this paper is to examine the regulation of advertising by considering market‐driven firms (those seeking to keep within the boundaries set by social and industry norms) and market drivers (those seeking to stretch boundaries to gain a competitive advantage). Thought...