Publication:
Consumer Surplus with Incomplete Markets: Applications to Savings and Microfinance

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dc.contributor.authorLoeser, John Ashton
dc.date.accessioned2023-07-10T16:59:36Z
dc.date.available2023-07-10T16:59:36Z
dc.date.issued2023-07-10
dc.description.abstractThe household welfare gains from financial inclusion are empirically elusive. This paper establishes that household welfare gains from a financial technology are equal to the area under dynamically compensated demand in a household model with incomplete financial markets, and general technology, preferences, and choice sets. This paper then estimates compensated demand for financial technologies leveraging three randomized control trials that introduce experimental variation in interest rates. Welfare gains per dollar lent or saved are small as compensated demand elasticities are large, but still correspond to large aggregate welfare gains from financial inclusion.en
dc.identifierhttp://documents.worldbank.org/curated/en/099514406122325309/IDU0e4d509a20cf4d04ae60bfdb029f69de6bc00
dc.identifier.doi10.1596/1813-9450-10481
dc.identifier.urihttps://openknowledge.worldbank.org/handle/10986/39966
dc.languageEnglish
dc.language.isoen
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Papers; 10481
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by/3.0/igo/
dc.subjectCONSUMER SURPLUS
dc.subjectINCOMPLETE FINANCIAL MARKETS
dc.subjectFINANCIAL INCLUSION
dc.subjectHOUSEHOLD WELFARE GAINS
dc.titleConsumer Surplus with Incomplete Marketsen
dc.title.subtitleApplications to Savings and Microfinanceen
dc.typeWorking Paper
dspace.entity.typePublication
okr.crossref.titleConsumer Surplus with Incomplete Markets: Applications to Savings and Microfinance
okr.date.disclosure2023-06-12
okr.date.lastmodified2023-06-12T00:00:00Zen
okr.doctypePolicy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099514406122325309/IDU0e4d509a20cf4d04ae60bfdb029f69de6bc00
okr.guid099514406122325309
okr.identifier.docmidIDU-e4d509a2-cf4d-4ae6-bfdb-29f69de6bc00
okr.identifier.doi10.1596/1813-9450-10481
okr.identifier.doihttp://dx.doi.org/10.1596/1813-9450-10481
okr.identifier.externaldocumentum34078470
okr.identifier.internaldocumentum34078470
okr.identifier.reportWPS10481
okr.import.id884
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099514406122325309/pdf/IDU0e4d509a20cf4d04ae60bfdb029f69de6bc00.pdfen
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicPoverty Reduction::Living Standards
okr.topicPoverty Reduction::Social Development & Poverty
okr.unitDIME Gender
okr.unitEco Opp & Fragility (DIME2)
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