Day of an Assistant Professor (54)

1. Have a chat to a PhD student on her research.

2. Have a chat with another PhD student on her research.

3. Review some PhD applications.

4. Read Guttman (2008):

Assortative matching of borrowers under joint liability contracts may not occur due to dynamic incentives, because forming a group with safe borrowers decreases the probability of being denied credit after group defaulting MORE for a risky borrower.