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Enforcement with Costly Group Formation
by
Prabirendra Chatterjee
,
Sudipta Sarangi
| Citations: | 1 - 0 self |
BibTeX
@MISC{Chatterjee_enforcementwith,
author = {Prabirendra Chatterjee and Sudipta Sarangi},
title = {Enforcement with Costly Group Formation},
year = {}
}
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Abstract
The joint liability literature claims that positive assortative matching, or risk homogeneity, is always the first best solution. We examine this claim in presence of group formation costs and find that the assertion is not always true. We would like to thank Aditi Roy, David Li and an anonymous referee for helpful suggestions. All remaining errors are ours.
