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

@article{Johannesen2011LivestockAI,
  title={Livestock as Insurance and Social Status: Evidence from Reindeer Herding in Norway},
  author={Anne Borge Johannesen and Anders Skonhoft},
  journal={Environmental and Resource Economics},
  year={2011},
  volume={48},
  pages={679-694}
}
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… 

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