Publication:
Barriers to Household Risk Management : Evidence from India

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dc.contributor.authorCole, Shawn A.
dc.contributor.authorGiné, Xavier
dc.contributor.authorTobacman, Jeremy
dc.contributor.authorTownsend, Robert M.
dc.contributor.authorTopalova, Petia
dc.contributor.authorVickery, James
dc.date.accessioned2014-04-21T18:58:39Z
dc.date.available2014-04-21T18:58:39Z
dc.date.issued2013-01
dc.description.abstractWhy do many households remain exposed to large exogenous sources of nonsystematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and nonprice factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to US insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints, and limited salience are significant nonprice frictions that constrain demand. We suggest possible contract design improvements to mitigate these frictions.en
dc.identifier.citationAmerican Economic Journal: Applied Economics
dc.identifier.doi10.1596/17926
dc.identifier.issn1945-7782
dc.identifier.other10.1257/app.5.1.104
dc.identifier.urihttps://hdl.handle.net/10986/17926
dc.language.isoen_US
dc.publisherAmerican Economic Association
dc.rightsCC BY 3.0 IGO
dc.rights.holderAmerican Economic Association
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectpersonal finance
dc.subjectrisk
dc.subjectuncertainty
dc.subjectdecision-making
dc.subjectmicroeconomic analyses
dc.subjecteconomic development
dc.subjectagriculture
dc.subjectsaving and capital investment
dc.subjectfarm households
dc.subjectrural transportation
dc.titleBarriers to Household Risk Management : Evidence from Indiaen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.date.disclosure2014-03-18
okr.date.doiregistration2025-05-06T10:54:57.976535Z
okr.doctypePublications & Research::Journal Article
okr.externalcontentExternal Content
okr.globalpracticeSocial, Urban, Rural and Resilience
okr.globalpracticeFinance and Markets
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.identifier.doi10.1257/app.5.1.104
okr.journal.nbpages104-135
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.region.countryIndia
okr.relation.associatedurlhttp://www.aeaweb.org/articles.php?doi=10.1257/app.5.1.104
okr.relation.associatedurlhttp://dx.doi.org/10.1257/app.5.1.104
okr.relation.associatedurlhttps://openknowledge.worldbank.org/handle/10986/3987
okr.topicFinance and Financial Sector Development::Insurance & Risk Mitigation
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicRural Development::Rural Development Strategy & Policy
okr.topicRural Development::Rural Microfinance and SMEs
okr.topicRural Development::Rural Roads & Transport
okr.volume5(1)
relation.isAuthorOfPublication460a3e9c-f7d0-5335-977a-578f6fc8ebe3
relation.isAuthorOfPublication.latestForDiscovery460a3e9c-f7d0-5335-977a-578f6fc8ebe3
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