The 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...
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INFORMATION
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2023/06/12
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Document de travail de recherche sur les politiques
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WPS10481
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1
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2023/06/12
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Disclosed
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Consumer Surplus with Incomplete Markets : Applications to Savings and Microfinance
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