In this paper, we estimate the indirect economic losses to U.S. shrimp consumers as a result of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. Using a combination of national fisheries market data and the results of an experimental auction, we identify three sources of economic...

There has been much recent interest in the demand for index insurance, the influence of financial literacy on demand for financial products, as well as the positive benefits of experimental games. This paper describes a randomized control trial (RCT) that was performed to understand the effect...

This paper introduces a web-based computer program designed to evaluate weather risk man-agement and weather insurance in the United States. The paper outlines the economics of weather risk in terms of agricultural production and household well-being; defines weather risk in terms of intensity,...

There is much interest in weather index insurance as a poverty‐mitigating tool, but concerns persist about potential demand for the product among the poorest of the poor. This paper relates the experiences in rural areas of Tigray region, Ethiopia through both commercial sign‐up data and a...

We present results of experimental games with smallholder farmers in Tigray, Ethiopia, in 2010, in which participants in the games allocated money across risk management options. One of the options was index insurance that was the same as commercial products sold locally. Participants exhibited...

Paper removed/under major revisions Sept. 25, 2014.

Farmers have to make key decisions, such as which crops to plant or whether to prepare the soil, before knowing how much water they will get. They face losses if they make costly decisions but do not receive water, and they may forego profits if they receive water without being prepared. We...