Livestock as Insurance and Social Status: Evidence from Reindeer Herding in Norway
AbstractThe theory of livestock as a buffer stock predicts that agropastoralists facing substantial risks typically will use liquid assets, such as livestock, for self-insurance to smooth consumption. This paper examines this hypothesis for reindeer herders in Norway where the herders, in contrast to pastoralists in, say, Sub-Saharan Africa, face well functioning credit markets. Using survey data including slaughtering responses to a hypothetical meat price increase, we test whether keeping reindeer as insurance against risks affects the slaughter response. Furthermore, we study whether status motives for keeping large herds affect the harvest response to a changing slaughter price. As a background for the empirical analysis, a stochastic bioeconomic model describing Saami reindeer herding is formulated
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 48 (2011)
Issue (Month): 4 (April)
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Web page: http://www.springerlink.com/link.asp?id=100263
Pastoralism; Social status; Uncertainty;
Other versions of this item:
- Anne Borge Johannesen & Anders Skonhoft, 2009. "Livestock as insurance and social status. Evidence from reindeer herding in Norway," Working Paper Series 10509, Department of Economics, Norwegian University of Science and Technology.
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Blog mentionsAs found by EconAcademics.org, the blog aggregator for Economics research:
- Cattle as self-insurance in modern economies
by Economic Logician in Economic Logic on 2009-09-11 14:56:00
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