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来源类型Publication
Behavioral Economic Insights on Index Insurance Design
Michael Carter; Ghada Elabed; and Elena Serfilippi
发表日期2015-05-30
出版者Agricultural Finance Review, vol. 75, issue 1
出版年2015
语种英语
概述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.",
摘要

Key Findings:

  • Substantial numbers of farmers depart from expected utility behavior in ways that predict excess sensitivity to uncovered basis risk in insurance contracts; and, the fact that insurance premiums are typically framed as certain and unavoidable, while benefits are unknown and stochastic.

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. The purpose of this paper is to report on results from two recent field experiments that measure the extent to which farmer behavior departs from the predictions of expected utility theory and derives the implications of these departures for insurance demand.

URLhttps://www.mathematica.org/our-publications-and-findings/publications/behavioral-economic-insights-on-index-insurance-design
来源智库Mathematica Policy Research (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/488124
推荐引用方式
GB/T 7714
Michael Carter,Ghada Elabed,and Elena Serfilippi. Behavioral Economic Insights on Index Insurance Design. 2015.
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