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To ensure the availability of cleanup funds, federal regulators often require ex ante proof of ability-to-pay for future environmental liabilities. These regulations currently apply to hazardous waste managers under the Resource Conservation and Recovery Act, and are being considered for...
Persistent link: https://www.econbiz.de/10011069692
Empirical evidence on developing countries highlights that poor farm-households are less keen to adopt high risk / high return technologies than rich households. Yet, they tend to be more vulnerable to income shocks than the rich. This paper develops a model of informal risk-sharing with...
Persistent link: https://www.econbiz.de/10011098249
Moral hazard and adverse selection impede the development of formal crop insurance markets in developing countries. Besides, the risk mitigation provided by informal risk-sharing arrangements is restricted by their inability to protect against covariate shocks. In this context, index-based...
Persistent link: https://www.econbiz.de/10011098253