Dangers of a Double-Bottom Line: A Poverty Targeting Experiment Misses Both Targets

Approval from the Yale University Human Subjects Committee, IRB0510000752 and from the Innovations for Poverty Action Human Subjects Committee, IRB #07October-002. The project was registered on the AEA RCT Registry (AEARCTR-0000165). For funding we thank the Bill and Melinda Gates Foundation, the Consultative Group for Assistance to the Poor (CGAP), and AusAID. For project management and field support we thank Innovations for Poverty Action; specifically: Varun Kshirsagar, Kareem Haggag, Megan McGuire, Faith McCollister, Mark Miller, Sarah Oberst and Bernie Seville. For collaboration we thank the senior management and staffs at First Macro Bank, FICO Bank, and Grameen Foundation. The authors retained full intellectual freedom to report and interpret the results throughout the study. The data that support the findings of this study are available from the corresponding author upon reasonable request and will be made available in a public repository upon acceptance. All errors and opinions are those of the authors. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• March 9, 2018