Demand for Price Insurance among Farmers in India: A Choice Experiment-based Approach
Published By: Institute of Economic Growth (IEG) | Published Date: January, 01 , 2014Agriculture is an intrinsically risky economic activity. Farmers face a multitude of risks, such as production risks, on account of weather variations, and price risks, associated with falling output prices. Given the inadequacy of informal risk management mechanisms in the developing world to mitigate systematic risks, there have been attempts at developing efficient formal or market-based risk transfer instruments. This paper explores the willingness to pay among farmers for insurance and the existing formal and informal insurance mechanisms.
Author(s): Thaigu Ranganathan, Sarthak Gaurav, Ashish Singh | Posted on: Sep 24, 2014 | Views(737) | Download (126)