Replication data for: Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment

Principal Investigator(s): View help for Principal Investigator(s) Shawn Cole; Daniel Stein; Jeremy Tobacman

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Project Citation:

Cole, Shawn, Stein, Daniel, and Tobacman, Jeremy. Replication data for: Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112787V1

Project Description

Summary: This paper estimates how experimentally-manipulated experiences with a novel financial product, rainfall index insurance, affect subsequent insurance demand. Using a seven-year panel, we develop three main findings. First, recent experience matters for demand, consistent with overinference from small samples. Second, spillovers also matter, in the sense that the recent payout experience of village co-residents affects insurance demand about as much as one's own recent payout experience. Third, the spillover effect decays as time passes while the effect of one's own experience does not. We discuss implications of this analysis for commercial sustainability of this complicated but promising risk management technology.

Scope of Project

Subject Terms: Microinsurance; Rainfall; Index Insurance

JEL Classification:
      C93 Field Experiments
      G22 Insurance; Insurance Companies; Actuarial Studies
      O13 Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
      O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
      Q11 Agriculture: Aggregate Supply and Demand Analysis; Prices
      Q14 Agricultural Finance
      Q54 Climate; Natural Disasters and Their Management; Global Warming

Geographic Coverage: India

Time Period(s): 2006 – 2013

Data Type(s): survey data; administrative records data; experimental data

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Published Versions

V1 [2019-10-11]

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DDI 2.5

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