Two essays on the economics of Kye(契)

  • Oh, Kwan-Chi (Assistant Professor of Economics, Korea Military Academy)
  • Published : 1974.06.01

Abstract

The economic behavior of individuals' selection of particular kye and positions in a kye is based upon choice criteria. The selection of a kye or a position in a kye is not the same as an investor's portfolio selection. A kye member combines in varying degrees the characteristics of both a borrower and a lender of funds. In the following sections we shall first propose choice criteria for borrowers and lenders of funds, then we will try to test various hypotheses derived from the choice criteria by empirical data.

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