Competitive microcredit markets: differentiation andex anteincentives for multiple borrowing: Fig. 1
分析了信息不对称的寡头小额信贷市场中，合同设计如何通过差异化和信贷配给影响企业家多重借贷的事前激励。
I analyse an oligopolistic microcredit market characterized by asymmetric information on the riskiness of borrowers. I study the effects of competition when, due to the absence of credit bureaus, small entrepreneurs can borrow from more than one institution. I show how contract design can influence the ex ante incentives for multiple borrowing. Our model predicts that, under some conditions, a screening strategy based on contract differentiation and credit rationing can avoid multiple borrowing.