The Welfare Effects of Index-Based Livestock Insurance: Livestock Herding on Communal Lands
نویسندگان
چکیده
Abstract Agricultural (index) insurance for smallholders in developing countries has gained traction academic and policy circles. The expectation is that the uptake of will protect from production shocks incentivize them to modernize production. We develop a simple theoretical model demonstrate welfare effects are fundamentally ambiguous—even absence transaction costs or basis risk. second-best nature institutional context within which operate implies may accentuate pre-existing inefficiencies. This idea worked out detail case livestock herding on common grazing lands. Our predicts invites overstocking communal lands, lowers profitability when pastures degraded.
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ژورنال
عنوان ژورنال: Environmental and Resource Economics
سال: 2021
ISSN: ['1573-1502', '0924-6460']
DOI: https://doi.org/10.1007/s10640-021-00545-1