Weather Insurance: Managing Risk Through an Innovative Retail Derivative by Shawn Cole, Jeremy Tobacman, and Petia Topalova :: NEUDC 2007 Papers :: Northeast Universities Development Consortium Conference :: Center for International Development at Harvar
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چکیده
This paper presents the results of a series of randomized eld experiments conducted in villages in rural Gujarat. Rainfall insurance, an innovative risk-management tool, was marketed to farmers and agricultural laborers. We rst examine what factors a¤ected takeup decisions. Wealth, education, risk-aversion, and the ability to understand probabilities are positively associated with take-up. We then conduct a series of marketing experiments, which reveal the following: framing risk dramatically a¤ects take up, while other subtle cues do not. Finally, we measure the price elasticity of demand, nding a high sensitivity. Harvard Business School ([email protected])l, Oxford University ([email protected]), and International Monetary Fund ([email protected]), respectively. yPreliminary and Incomplete. Please do not cite. Comments welcome.
منابع مشابه
Barriers to Household Risk Management: Evidence from India.
Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ...
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تاریخ انتشار 2007