Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh
Financial and technological innovations that mitigate weather-related production risks have the potential to greatly benefit farmers in many risk-prone. In this study we examine farmers’ preferences for two distinct tools that allow them to manage drought risk: weather index insurance and a recently...
| Autores principales: | , , , , |
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| Formato: | Conference Paper |
| Lenguaje: | Inglés |
| Publicado: |
2015
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/151319 |
| _version_ | 1855531629364117504 |
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| author | Ward, Patrick S. Spielman, David J. Ortega, David L. Kumar, Neha Minocha, Sumedha |
| author_browse | Kumar, Neha Minocha, Sumedha Ortega, David L. Spielman, David J. Ward, Patrick S. |
| author_facet | Ward, Patrick S. Spielman, David J. Ortega, David L. Kumar, Neha Minocha, Sumedha |
| author_sort | Ward, Patrick S. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | Financial and technological innovations that mitigate weather-related production risks have the potential to greatly benefit farmers in many risk-prone. In this study we examine farmers’ preferences for two distinct tools that allow them to manage drought risk: weather index insurance and a recently released drought-tolerant rice variety. We illustrate how these tools can independently address drought risk and demonstrate the additional benefits gained by combining them into a complementary risk management product. Findings indicate that farmers are generally unwilling to adopt the drought-tolerant variety independent of insurance, largely due to a yield penalty under non-drought conditions. When bundled with insurance, however, farmers’ valuation of the variety increases. Farmers value insurance on its own, but even more so when bundled with the drought-tolerant variety. The results provide evidence that farmers value the complementarities inherent in a well-calibrated bundle of risk management tools. Ward, Patrick S.; Spielman, David J.; Ortega, David L.; Kumar, Neha; Minocha, Sumedha |
| format | Conference Paper |
| id | CGSpace151319 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2015 |
| publishDateRange | 2015 |
| publishDateSort | 2015 |
| record_format | dspace |
| spelling | CGSpace1513192025-02-24T06:47:25Z Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh Ward, Patrick S. Spielman, David J. Ortega, David L. Kumar, Neha Minocha, Sumedha insurance seeds rice drought tolerance experimental design risk Financial and technological innovations that mitigate weather-related production risks have the potential to greatly benefit farmers in many risk-prone. In this study we examine farmers’ preferences for two distinct tools that allow them to manage drought risk: weather index insurance and a recently released drought-tolerant rice variety. We illustrate how these tools can independently address drought risk and demonstrate the additional benefits gained by combining them into a complementary risk management product. Findings indicate that farmers are generally unwilling to adopt the drought-tolerant variety independent of insurance, largely due to a yield penalty under non-drought conditions. When bundled with insurance, however, farmers’ valuation of the variety increases. Farmers value insurance on its own, but even more so when bundled with the drought-tolerant variety. The results provide evidence that farmers value the complementarities inherent in a well-calibrated bundle of risk management tools. Ward, Patrick S.; Spielman, David J.; Ortega, David L.; Kumar, Neha; Minocha, Sumedha 2015-07-28 2024-08-01T02:56:39Z 2024-08-01T02:56:39Z Conference Paper https://hdl.handle.net/10568/151319 en http://purl.umn.edu/211909 https://doi.org/10.1086/700632 https://hdl.handle.net/10568/151317 Open Access Ward, Patrick S.; Spielman, David J.; Ortega, David L.; Kumar, Neha; and Minocha, Sumedha. 2015. Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh. Presented at Agricultural and Applied Economics Association 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California. https://purl.umn.edu/204882 |
| spellingShingle | insurance seeds rice drought tolerance experimental design risk Ward, Patrick S. Spielman, David J. Ortega, David L. Kumar, Neha Minocha, Sumedha Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh |
| title | Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh |
| title_full | Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh |
| title_fullStr | Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh |
| title_full_unstemmed | Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh |
| title_short | Demand for Complementary Financial and Technological Tools for Managing Drought Risk: Evidence from Rice Farmers in Bangladesh |
| title_sort | demand for complementary financial and technological tools for managing drought risk evidence from rice farmers in bangladesh |
| topic | insurance seeds rice drought tolerance experimental design risk |
| url | https://hdl.handle.net/10568/151319 |
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