New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India
Droughts have historically had large impacts on agricultural production in rainfed agricultural systems. Scientists and policymakers have proposed various strategies for managing risks, with limited success. In this study we consider two such strategies, specifically drought tolerant rice and weathe...
| Autores principales: | , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Elsevier
2018
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/145474 |
| _version_ | 1855524431010463744 |
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| author | Ward, Patrick S. Makhija, Simrin |
| author_browse | Makhija, Simrin Ward, Patrick S. |
| author_facet | Ward, Patrick S. Makhija, Simrin |
| author_sort | Ward, Patrick S. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Droughts have historically had large impacts on agricultural production in rainfed agricultural systems. Scientists and policymakers have proposed various strategies for managing risks, with limited success. In this study we consider two such strategies, specifically drought tolerant rice and weather index insurance. While neither drought tolerant cultivars nor weather index insurance products are perfect solutions for adequately managing drought risk in and of themselves, there is scope to exploit the benefits of each and bundle them into a complementary risk management product, specifically through proper index calibration and an optimized insurance design. In this study, we explore preferences for such a complementary risk management product using discrete choice experiments in Odisha, India. We are able to estimate the added value that farmers perceive in the bundled product above and beyond the value associated with each of the independent products. We also show that valuations are very sensitive to the basis risk implied by the insurance product, with farmers less enthusiastic about risk management products that leave significant risks uninsured. |
| format | Journal Article |
| id | CGSpace145474 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2018 |
| publishDateRange | 2018 |
| publishDateSort | 2018 |
| publisher | Elsevier |
| publisherStr | Elsevier |
| record_format | dspace |
| spelling | CGSpace1454742025-02-24T06:47:39Z New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India Ward, Patrick S. Makhija, Simrin risk management rice weather index insurance crop insurance drought drought tolerance rainfed farming Droughts have historically had large impacts on agricultural production in rainfed agricultural systems. Scientists and policymakers have proposed various strategies for managing risks, with limited success. In this study we consider two such strategies, specifically drought tolerant rice and weather index insurance. While neither drought tolerant cultivars nor weather index insurance products are perfect solutions for adequately managing drought risk in and of themselves, there is scope to exploit the benefits of each and bundle them into a complementary risk management product, specifically through proper index calibration and an optimized insurance design. In this study, we explore preferences for such a complementary risk management product using discrete choice experiments in Odisha, India. We are able to estimate the added value that farmers perceive in the bundled product above and beyond the value associated with each of the independent products. We also show that valuations are very sensitive to the basis risk implied by the insurance product, with farmers less enthusiastic about risk management products that leave significant risks uninsured. 2018-07-31 2024-06-21T09:04:33Z 2024-06-21T09:04:33Z Journal Article https://hdl.handle.net/10568/145474 en https://hdl.handle.net/10568/148052 https://hdl.handle.net/10568/148053 Open Access Elsevier Ward, Patrick S.; and Makhija, Simrin. 2018. New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India. World Development 107 (July 2018): 163-175. https://doi.org/10.1016/j.worlddev.2018.03.002 |
| spellingShingle | risk management rice weather index insurance crop insurance drought drought tolerance rainfed farming Ward, Patrick S. Makhija, Simrin New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India |
| title | New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India |
| title_full | New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India |
| title_fullStr | New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India |
| title_full_unstemmed | New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India |
| title_short | New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India |
| title_sort | new modalities for managing drought risk in rainfed agriculture evidence from a discrete choice experiment in odisha india |
| topic | risk management rice weather index insurance crop insurance drought drought tolerance rainfed farming |
| url | https://hdl.handle.net/10568/145474 |
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