Construct · 1 fields · 1 citations

limited commitment: a standalone construct

One name. One construct. A landmark on the map.

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Development economics

risk sharing that is incomplete because people can walk away from informal insurance agreements when staying in is not worth it.

In development economics, limited commitment refers to risk sharing that is incomplete because people can walk away from informal insurance agreements when staying in is not worth it. This meaning comes from Ligon (2002) in Review of Economic Studies.[1]

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Nearby constructs

commitment5 fields · 9 citationsjingle · one name, five constructs consumption smoothing1 fields · 1 citationsanchor · a standalone construct development1 fields · 2 citationsanchor · a standalone construct

References

Ligon, E., Thomas, J. P., & Worrall, T. (2002). Informal Insurance Arrangements with Limited Commitment: Theory and Evidence from Village Economies. Review of Economic Studies, 69(1), 209-244. https://doi.org/10.1111/1467-937x.00204

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