Common Contracts
1 similar Financial Agreements contracts
Roscas as financial agreements to cope with social pressure∗Financial Agreements • September 6th, 2002
received by individual i in state l. The state of nature l occurs with probability p(l). The transfer scheme {tl}i∈N performed in every state l must be budget balanced in the precise sense that the money distributed within the group N must be enterally financed by its members.
