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The Theory of Credit Contracts


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Table of Contents

A structural analysis of credit contract theory.- The treatment of credit contract theory in the literature.- A standardisation of credit contract theory.- Joint liability and its potential to cause adverse selection instead of resolving it.- The perverse effect of joint liability and its disappearance under adaptive punishment.- Cross-reporting with zero equilibrium punishment load.

About the Author

Christian Prem, Master of Advanced Studies in Mathematics (University of Cambridge, UK).

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