Competitive Lending with Partial Knowledge of Loan Repayment
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We study a competitive credit market in which lenders with partial knowledge of loan repayment use one of three decision criteria - maximization of expected utility, maximin, or minimax regret - to make lending decisions. Lenders allocate endowments between loans and a safe asset, while borrowers
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美国国家经济研究局创建时间：
2008-10-01
