1. for the interpretation of this common debt-pricing equation as a no-arbitrage condition. 11 It should be possible to relax this;See Gordon;However, this References S. R. Aiyagari,1994
2. Unsecured credit markets are not insurance markets;K B Athreya;Journal of Monetary Economics,2009
3. Are Harsh Penalties for Default Really Better?
4. Bankruptcy and Delinquency in a Model of Unsecured Debt