How Important are Investment Indivisibilities for Development? Experimental Evidence from Uganda
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Theoretically, indivisible investments together with financial frictions can lower development, generate poverty traps, and lead agents to become risk-loving. Using experimental cash grants involving a choice between a safer, low payoff and a riskier, large payoff lottery, we find that 27 percent
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美国国家经济研究局创建时间：
2022-02-01
