Estimating the Demand Factors and Willingness to Pay for Agricultural Insurance
This article investigates the effect of prices and socio-demographic variables on the farmers decision to purchase agricultural insurance. A survey has been conducted to 200 farmers most of whom are engaged in diversified income-generating activities. The logistic estimation results suggest that education and household income from farming activities positively affect the likelihood of purchasing insurance. The demand for insurance is negatively correlated with the premium paid per insured value, suggesting that insurance is a normal good. Farmers are willing to pay (WTP) increasingly higher premiums for contracts with a higher coverage ratio. According to the valuation model, the WTP declines sharply for coverage ratios under 70%.
Code (0)
등록된 구현이 없습니다.
Similar Papers 제목 키워드 기반
Valuing insurance against small probability risks: A meta-analysis
The demand for voluntary insurance against low-probability, high-impact risks is lower than expected. To assess the magnitude of the demand, we conduct a meta-analysis of contingent valuation studies using a dataset of e…
ManagementregressionWillingness to pay, surplus and Insurance policy under dual theory
In this paper, we aims to state some proprieties of willingness to pay (WTP) for partial risk reduction and links with insurance within the dual theory of decision. In the case of partial reduction, we get as Langlais (2…
On the benefits of index insurance in US agriculture: a large-scale analysis using satellite data
Index insurance has been promoted as a promising solution for reducing agricultural risk compared to traditional farm-based insurance. By linking payouts to a regional factor instead of individual loss, index insurance r…
Response toward Public Health Policy Ambiguity and Insurance Decisions
Adjustments to public health policy are common. This paper investigates the impact of COVID-19 policy ambiguity on specific groups' insurance consumption. The results show that sensitive groups' willingness to pay (WTP) …
Risk, Agricultural Production, and Weather Index Insurance in Village India
We investigate the sources of variability in agricultural production and their relative importance in the context of weather index insurance for smallholder farmers in India. Using parcel-level panel data, multilevel mod…