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A Theory of Rational Demand for Index Insurance
Rational demand for index insurance products is shown to be fundamentally different to that for indemnity insurance products due to the presence of basis risk. In particular, optimal demand is zeroExpand
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Weather Based Crop Insurance in India
The weather index insurance market in India is the world's largest, having transitioned from small-scale and scattered pilots to a large-scale weather based crop insurance program covering more thanExpand
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Offering Rainfall Insurance to Informal Insurance Groups: Evidence from a Field Experiment in Ethiopia
We show theoretically that the presence of basis risk in index insurance makes it a complement to informal risk sharing, implying that index insurance crowds-in risk sharing and leading to aExpand
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MICROINSURANCE DECISIONS: EVIDENCE FROM ETHIOPIA
We review experimental evidence collected from a framed microinsurance field experiment using poor subjects in rural Ethiopia. We find the shape of demand for index insurance to be broadly in lineExpand
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Insurance Design for Developing Countries
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Reinsuring the Poor: Group Microinsurance Design and Costly State Verification
This paper analyses collusion-proof multilateral insurance contracts between a risk neutral insurer and multiple risk averse agents in an environment of asymmetric costly state verification. OptimalExpand
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Evidence from a Field Experiment in Ethiopia
We report the results from a first attempt to market weather insurance products to informal risk-sharing groups. In collaboration with a leading insurance company in Ethiopia, we marketed index-basedExpand
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Improving Farmers'Access to Agricultural Insurance in India
India's crop insurance program is the world's largest with 25 million farmers insured. However, issues in design, particularly related to delays in claims settlement, have led to 95 million farmerExpand
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The value of customized insurance for farmers in rural Bangladesh
Farmers in rural Bangladesh face multiple sources of uninsured risk to agricultural production and household assets. In this paper, we present results from an experimental demand-elicitation exerciseExpand
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Insurance, Credit and Safety Nets for the Poor in a World of Risk
This paper asks how insurance can be more effectively delivered to the poor, and what its role should be relative to other microfinance programmes, safety nets and informal insurance systems. WeExpand
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