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Dynamic Field Experiments in Development Economics: Risk Valuation in Morocco, Kenya, and Peru

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Author Info

  • Lybbert, Travis J.
  • Galarza, Francisco B.
  • McPeak, John G.
  • Barrett, Christopher B.
  • Boucher, Stephen R.
  • Carter, Michael R.
  • Chantarat, Sommarat
  • Fadlaoui, Aziz
  • Mude, Andrew G.

Abstract

The effective design and implementation of interventions that reduce vulnerability and poverty require a solid understanding of underlying poverty dynamics and associated behavioral responses. Stochastic and dynamic benefit streams can make it difficult for the poor to learn the value of such interventions to them. We explore how dynamic field experiments can help (i) intended beneficiaries to learn and understand these complicated benefit streams, and (ii) researchers to better understand how the poor respond to risk when faced with nonlinear welfare dynamics. We discuss and analyze dynamic risk valuation experiments in Morocco, Peru, and Kenya.

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File URL: http://purl.umn.edu/90791
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Bibliographic Info

Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

Volume (Year): 39 (2010)
Issue (Month): 2 (April)
Pages:

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Handle: RePEc:ags:arerjl:90791

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Web page: http://www.narea.org/
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Related research

Keywords: poverty; risk and uncertainty; dynamics; experiments; Kenya; Morocco; Peru; International Development; Research Methods/ Statistical Methods; Risk and Uncertainty;

References

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  1. Galarza, Francisco, 2009. "Choices under Risk in Rural Peru," MPRA Paper 17708, University Library of Munich, Germany.
  2. Alessandra Cassar & Luke Crowley & Bruce Wydick, 2007. "The effect of social capital on group loan repayment: evidence from field experiments," Economic Journal, Royal Economic Society, vol. 117(517), pages F85-F106, 02.
  3. Juan Camilo Cardenas & Jeffrey Carpenter, 2008. "Behavioural Development Economics: Lessons from Field Labs in the Developing World," Journal of Development Studies, Taylor & Francis Journals, vol. 44(3), pages 311-338.
  4. Glenn Harrison & John List, 2004. "Field experiments," Artefactual Field Experiments 00058, The Field Experiments Website.
  5. John Hoddinott, 2006. "Shocks and their consequences across and within households in Rural Zimbabwe," Journal of Development Studies, Taylor & Francis Journals, vol. 42(2), pages 301-321.
  6. Alexander L. Brown & Zhikang Eric Chua & Colin F. Camerer, 2009. "Learning and Visceral Temptation in Dynamic Saving Experiments-super-," The Quarterly Journal of Economics, MIT Press, vol. 124(1), pages 197-231, February.
  7. Stephen R. Boucher & Michael R. Carter & Catherine Guirkinger, 2008. "Risk Rationing and Wealth Effects in Credit Markets: Theory and Implications for Agricultural Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 90(2), pages 409-423.
  8. C.Mónica Capra & Tomomi Tanaka & ColinF. Camerer & Lauren Feiler & Veronica Sovero & CharlesN. Noussair, 2009. "The Impact of Simple Institutions in Experimental Economies with Poverty Traps," Economic Journal, Royal Economic Society, vol. 119(539), pages 977-1009, 07.
  9. Steven J. Humphrey & Arjan Verschoor, 2004. "Decision-making Under Risk among Small Farmers in East Uganda," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 13(1), pages 44-101, March.
  10. Xavier Gine & Pamela Jakiela & Dean Karlan & Jonathan Morduch, 2006. "Microfinance games," Framed Field Experiments 00150, The Field Experiments Website.
  11. Abbink, Klaus & Bernd Irlenbusch & Elke Renner, 2002. "Group Size and Social Ties in Microfinance Institutions," Royal Economic Society Annual Conference 2003 1, Royal Economic Society.
  12. Christopher Barrett & Paswel Phiri Marenya & John Mcpeak & Bart Minten & Festus Murithi & Willis Oluoch-Kosura & Frank Place & Jean Claude Randrianarisoa & Jhon Rasambainarivo & Justine Wangila, 2006. "Welfare dynamics in rural Kenya and Madagascar," Journal of Development Studies, Taylor & Francis Journals, vol. 42(2), pages 248-277.
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Citations

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Cited by:
  1. Sommarat Chantarat & Andrew G. Mude & Christopher B. Barrett & Michael R. Carter, 2013. "Designing Index-Based Livestock Insurance for Managing Asset Risk in Northern Kenya," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 80(1), pages 205-237, 03.
  2. Kent D. Messer & James J. Murphy, 2010. "Foreword: Special Issue on Experimental Methods in Environmental, Natural Resource and Agricultural Economics," Working Papers 2010-03, University of Alaska Anchorage, Department of Economics.
  3. Hill, Ruth Vargas & Hoddinott, John & Kumar, Neha, 2011. "Adoption of weather index insurance: Learning from willingness to pay among a panel of households in rural Ethiopia," ESSP working papers 27, International Food Policy Research Institute (IFPRI).
  4. Gine, Xavier & Menand, Lev & Townsend, Robert & Vickery, James, 2010. "Microinsurance : a case study of the Indian rainfall index insurance market," Policy Research Working Paper Series 5459, The World Bank.
  5. John McPeak & Sommarat Chantarat & Andrew Mude, 2010. "Explaining index-based livestock insurance to pastoralists," Agricultural Finance Review, Emerald Group Publishing, vol. 70(3), pages 333-352, November.
  6. Marenya, Paswel Phiri & Smith, Vincent H. & Nkonya, Ephraim M., 2012. "Subsistence farmer preferences for alternative incentive policies to encourage the adoption of conservation agriculture in Malawi: A choice elicitation approach," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 124010, Agricultural and Applied Economics Association.
  7. Cole, Shawn & Gine, Xavier & Vickery, James, 2013. "How does risk management influence production decisions? evidence from a field experiment," Policy Research Working Paper Series 6546, The World Bank.
  8. Christopher B. Barrett, 2011. "Covariate Catastrophic Risk Management in the Developing World: Discussion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(2), pages 512-513.
  9. Jean Philippe Platteau & Darwin Ugarte Ontiveros, 2013. "Understanding and Information Failures in Insurance: Evidence from India," Development Research Working Paper Series 07/2013, Institute for Advanced Development Studies.
  10. Norton, Michael T. & Holthaus, Eric & Madajewicz, Malgosia & Osgood, Daniel E. & Peterson, Nicole & Gebremichael, Mengesha & Mullally, Conner & Teh, TseLing, 2011. "Investigating Demand for Weather Index Insurance: Experimental Evidence from Ethiopia," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 104022, Agricultural and Applied Economics Association.

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