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Livestock as insurance and social status. Evidence from reindeer herding in Norway

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  • Anne Borge Johannesen

    (Department of Economics, Norwegian University of Science and Technology)

  • Anders Skonhoft

    (Department of Economics, Norwegian University of Science and Technology)

Abstract

The 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

Suggested Citation

  • 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.
    • Handle: RePEc:nst:samfok:10509
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Cattle as self-insurance in modern economies
      by Economic Logician in Economic Logic on 2009-09-11 19:56:00

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    2. Irmelin Slettemoen Helgesen & Anne Borge Johannesen, 2023. "Climate change and reindeer herding – a bioeconomic model on the economic implications for Saami reindeer herders in Sweden and Norway," Working Paper Series 19723, Department of Economics, Norwegian University of Science and Technology.
    3. Helgesen, Irmelin Slettemoen & Johannesen, Anne Borge & Bostedt, Göran & Sandorf, Erlend Dancke, 2024. "Climate change and reindeer herding – A bioeconomic model on the impact of climate change on harvesting profits for Saami reindeer herders in Norway and Sweden," Ecological Economics, Elsevier, vol. 223(C).
    4. Anne Borge Johannesen & Jon Olaf Olaussen & Anders Skonhoft, 2019. "Livestock and Carnivores: Economic and Ecological Interactions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(1), pages 295-317, September.
    5. Marius Warg Næss & Bård-Jørgen Bårdsen, 2023. "Wealth of nomads – an exploratory analysis of livestock inequality in the Saami reindeer husbandry," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 10(1), pages 1-11, December.

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