Problem
1. In China, rural property is owned collectively by the village while being managed under long-term contracts by individual farmers. Why might this be a problem in terms of optimal land managment, use, and allocation?
2. How does peer lending used in microfinance help to solve the problem of adverse selection?
3. Find another example of the use of cell phones as a way to improve market functioning in a developing economy.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.