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Equal Contributions and Unequal Risks in a North-east Thai Village Funeral Society

Author

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  • J. Bryant
  • A. Prohmmo

Abstract

Village funeral societies in north-east Thailand collect equal contributions from all participating households, even though some households are much more likely to experience deaths and receive money from the funeral society than others. The societies' use of the equal contributions rule is not an outcome of the asymmetric distribution of information on risks. It reflects, instead, an ambivalence over the relevance of expected returns, a willingness to subsidise fellow villagers, and the need to maximise simplicity and transparency to safeguard against mismanagement and corruption. The equal contributions rule is efficient, in that it leads to low administrative costs, has no clearly superior alternatives, and creates only minor adverse selection.

Suggested Citation

  • J. Bryant & A. Prohmmo, 2002. "Equal Contributions and Unequal Risks in a North-east Thai Village Funeral Society," Journal of Development Studies, Taylor & Francis Journals, vol. 38(3), pages 63-75.
    • Handle: RePEc:taf:jdevst:v:38:y:2002:i:3:p:63-75
    DOI: 10.1080/00220380412331322341
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    Cited by:

    1. Suwanrada, Worawet & Sukontamarn, Pataporn & Bangkaew, Busarin, 2018. "Who supports intergenerational redistribution policy? Evidence from old-age allowance system in Thailand," The Journal of the Economics of Ageing, Elsevier, vol. 12(C), pages 24-34.
    2. Erlend Berg, 2011. "Funeral insurance," CSAE Working Paper Series 2011-16, Centre for the Study of African Economies, University of Oxford.
    3. Zenker, Juliane & Herrmann, Tabea, 2016. "Risk-type and preference-based selection and stability of funeral insurance associations in Thailand," VfS Annual Conference 2016 (Augsburg): Demographic Change 145653, Verein für Socialpolitik / German Economic Association.
    4. Sundar, B. & Virmani, Vineet, 2013. "Attitudes towards Risk of Forest Dependent Communities - Evidence from Andhra Pradesh," IIMA Working Papers WP2013-12-01, Indian Institute of Management Ahmedabad, Research and Publication Department.

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