Livestock as Insurance and Social Status: Evidence from Reindeer Herding in Norway

  title={Livestock as Insurance and Social Status: Evidence from Reindeer Herding in Norway},
  author={A. Johannesen and A. Skonhoft},
  journal={Environmental and Resource Economics},
  • A. Johannesen, A. Skonhoft
  • Published 2011
  • Economics
  • Environmental and Resource Economics
  • The theory of livestock as a buffer stock predicts that agropastoralists facing substantial risks will typically use liquid assets such as livestock for self-insurance to smooth consumption. This paper examines this hypothesis for reindeer herders in Norway where the herders, in contrast to pastoralists in, say, sub-Saharan Africa, face well-functioning credit markets. Using survey data including slaughter responses to a hypothetical meat price increase, we test whether keeping reindeer as… CONTINUE READING

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