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Behavioral Economic Insights on Index Insurance Design

Author

Listed:
  • Michael Carter
  • Ghada Elabed
  • Elena Serfilippi

Abstract

While behavioral economic experiments have uncovered a wealth of insights concerning how people decide in the face of risk and uncertainty, the implications of these insights for the demand for agricultural insurance are under-explored.

Suggested Citation

  • Michael Carter & Ghada Elabed & Elena Serfilippi, "undated". "Behavioral Economic Insights on Index Insurance Design," Mathematica Policy Research Reports b304229c8789460683a3e4ed3, Mathematica Policy Research.
    • Handle: RePEc:mpr:mprres:b304229c8789460683a3e4ed3ac83670
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    File URL: http://www.emeraldinsight.com/doi/abs/10.1108/AFR-03-2015-0013
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    Cited by:

    1. Stoeffler, Quentin & Wouter, Gelade & Catherine, Guirkinger & Michael, Carter, 2016. "Indirect protection: the impact of cotton insurance on farmers’ income portfolio in Burkina Faso," 2016 Annual Meeting, July 31-August 2, Boston, Massachusetts 235980, Agricultural and Applied Economics Association.
    2. Belissa, Temesgen Keno & Lensink, Robert & van Asseldonk, Marcel, 2020. "Risk and ambiguity aversion behavior in index-based insurance uptake decisions: Experimental evidence from Ethiopia," Journal of Economic Behavior & Organization, Elsevier, vol. 180(C), pages 718-730.
    3. Hample, Kelsey C, 2021. "Formal insurance for the informally insured: Experimental evidence from Kenya," World Development Perspectives, Elsevier, vol. 22(C).
    4. Stoeffler, Quentin & Opuz, Gülce, 2022. "Price, information and product quality: Explaining index insurance demand in Burkina Faso," Food Policy, Elsevier, vol. 108(C).
    5. Peilu Zhang & Marco A. Palma, 2021. "Compulsory Versus Voluntary Insurance: An Online Experiment," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(1), pages 106-125, January.
    6. Sulewski, Piotr & Was, Adam, 2018. "Index-based insurance of gross margin in agriculture – key challenges," Problems of Agricultural Economics / Zagadnienia Ekonomiki Rolnej 276382, Institute of Agricultural and Food Economics - National Research Institute (IAFE-NRI).
    7. Dougherty, John P. & Flatnes, Jon Einar & Gallenstein, Richard A. & Miranda, Mario J. & Sam, Abdoul G., 2020. "Climate change and index insurance demand: Evidence from a framed field experiment in Tanzania," Journal of Economic Behavior & Organization, Elsevier, vol. 175(C), pages 155-184.
    8. Gómez-Limón, José A. & Granado-Díaz, Rubén, 2023. "Assessing the demand for hydrological drought insurance in irrigated agriculture," Agricultural Water Management, Elsevier, vol. 276(C).
    9. Platteau, Jean-Philippe & De Bock, Ombeline & Gelade, Wouter, 2017. "The Demand for Microinsurance: A Literature Review," World Development, Elsevier, vol. 94(C), pages 139-156.

    More about this item

    Keywords

    Ambiguity aversion; Discontinuous preferences; Index insurance; Risk and uncertainty;
    All these keywords.

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