Replication data for: Barriers to Household Risk Management: Evidence from India

Principal Investigator(s): View help for Principal Investigator(s) Shawn Cole; Xavier Giné; Jeremy Tobacman; Petia Topalova; Robert Townsend; James Vickery

Version: View help for Version V1

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Project Citation:

Cole, Shawn, Giné, Xavier, Tobacman, Jeremy, Topalova, Petia, Townsend, Robert, and Vickery, James. Replication data for: Barriers to Household Risk Management: Evidence from India. Nashville, TN: American Economic Association [publisher], 2013. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07. https://doi.org/10.3886/E116379V1

Project Description

Summary: Why do many households remain exposed to large exogenous sources of nonsystematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and nonprice factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to US insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints, and limited salience are significant nonprice frictions that constrain demand. We suggest possible contract design improvements to mitigate these frictions. (JEL D14, D81, O12, O13, O16, O18, Q12)

Scope of Project

JEL Classification:
      D14 Household Saving; Personal Finance
      D81 Criteria for Decision-Making under Risk and Uncertainty
      O12 Microeconomic Analyses of Economic Development
      O13 Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
      O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
      O18 Economic Development: Urban, Rural, Regional, and Transportation Analysis; Housing; Infrastructure
      Q12 Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

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V1 [2019-12-07]

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