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dc.contributorMude, Andrewen_US
dc.contributorBarrett, Christopheren_US
dc.contributorTurvey, Calumen_US
dc.creatorChantarat, Sommaraten_US
dc.date2014-06-30en_US
dc.date.accessioned2017-01-05T19:43:25Z
dc.date.available2017-01-05T19:43:25Z
dc.identifierhttps://mel.cgiar.org/reporting/download/hash/6rh6uBB9en_US
dc.identifier.citationSommarat Chantarat, Andrew Mude, Christopher Barrett, Calum Turvey. (30/6/2014). WELFARE IMPACTS OF INDEX INSURANCE IN THE PRESENCE OF A POVERTY TRAP. Nairobi, Kenya: International Livestock Research Institute (ILRI).en_US
dc.identifier.urihttps://hdl.handle.net/20.500.11766/5316
dc.description.abstractThis paper evaluates the effectiveness of an index-based livestock insurance (IBLI) product designed to compensate for area average predicted livestock mortality loss in northern Kenya, where previous work has established the presence of poverty traps. We simulate household-specific wealth dynamics based on a model parameterized using rich panel and experimental data from the region. The simulations allow us to investigate patterns of willingness to pay for asset index insurance that is imperfectly correlated with individuals' loss experience. The bifurcated livestock dynamics associated with the poverty trap gives rise to insurance valuation that is highly nonlinear in individual herd size. Willingness to pay among vulnerable groups who most need insurance are, on average, lower than commercially viable rates. And subsidization of IBLI premiums appears to offer more cost-effective poverty reduction than direct transfers to the pooren_US
dc.formatPDFen_US
dc.languageenen_US
dc.publisherInternational Livestock Research Institute (ILRI)en_US
dc.rightsCC-BY-NC-4.0en_US
dc.subjectindex insuranceen_US
dc.subjectasset risken_US
dc.subjectbifurcated wealth dynamicsen_US
dc.subjectnonlinear growthen_US
dc.subjectpoverty trapsen_US
dc.subjectsafety neten_US
dc.subjectrisk preference elicitationen_US
dc.titleWELFARE IMPACTS OF INDEX INSURANCE IN THE PRESENCE OF A POVERTY TRAPen_US
dc.typeReporten_US
cg.creator.idMude, Andrew: 0000-0003-4903-6613en_US
cg.creator.ID-typeORCIDen_US
cg.subject.agrovocagricultureen_US
cg.subject.agrovoclivestocken_US
cg.subject.agrovockenyaen_US
cg.subject.agrovocpastoralistsen_US
cg.contributor.centerAustralian National University, Crawford School of Public Policy - ANU-Crawforden_US
cg.contributor.centerInternational Livestock Research Institute - ILRIen_US
cg.contributor.centerCornell University - CORNELLen_US
cg.contributor.crpCRP on Dryland Systems - DSen_US
cg.contributor.funderUnited States Agency for International Development - USAIDen_US
cg.contributor.funderEuropean Union, European Commission - EU-ECen_US
cg.contributor.funderAustralian Department of Foreign Affairs and Trade - DFAT(AusAID, ADRAS)en_US
cg.contributor.funderDepartment for International Development United Kingdom - DFIDen_US
cg.contributor.projectIndex-Based Livestock Insuranceen_US
cg.contributor.project-lead-instituteInternational Livestock Research Institute - ILRIen_US
cg.coverage.regionEastern Africaen_US
cg.coverage.countryKEen_US
cg.contactsommarat.chantarat@anu.edu.auen_US
dc.identifier.statusOpen accessen_US
mel.project.openhttp://ibli.ilri.orgen_US


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