The literature on economic growth and development has focused considerable attention on questions of risk management and the possibility of multiple equilibria associated with poverty traps. We use herd history data collected among pastoralists in southern Ethiopia to study stochastic wealth...

Temporal climate risk weighs heavily on many of the world's poor. Recent advances in model-based climate forecasting have expanded the range, timeliness and accuracy of forecasts available to decision-makers whose welfare depends on stochastic climate outcomes. There has consequently been...

While economic development has proven elusive in African pastoral systems, change is pervasive. The Kajiado Maasai, for example, have endured declines in terms of per capita livestock holdings and other aspects of human welfare over the past 50 years. Activity diversification has occurred in...

The Boran of southern Ethiopia have been traditionally viewed as unwilling or unable to engage in large scale, commercialized livestock trade. Here we report on the creation of a new livestock marketing chain from the Borana Plateau to export outlets largely serving the Gulf States. Since 2003...

Since 2000, the PARIMA project has implemented risk-management activities among semi-settled pastoralists in southern Ethiopia. The goal has been to improve human welfare via collective action and capacity building. Outcomes include progress in income generation, asset conservation, and...

The PARIMA project has facilitated collective action, empowerment of women, and increased involvement in livestock marketing among pastoralists on the Borana Plateau since 2001. Fifty-nine collective-action groups formed by PARIMA and her partners have been recently merged into market-oriented...

Pastoralists in northern Kenya may be able to diversify income by selling milk in nearby towns and cities. However, milk sold in open-air markets in communities in northern Kenya is often of low quality in terms of its sensory characteristics. The milk is also often adulterated before sale....

Economists attribute many common behaviors to risk aversion and frequently focus on how wealth moderates risk preferences. This paper highlights a problem associated with empirical tests of the relationship between wealth and risk aversion that can arise when the probabilities individuals face...

How and how well growers manage the risks inherent in agriculture has direct welfareimplications for producers and consumers at both local and societal levels. While better weather,pest and disease forecast information are rapidly disseminating among producers and are oftentouted as promising...

Although rice accounts for approximately forty-four percent of land under cultivation and forty-six percent of caloric intake in Madagascar, most farmers cannot produce enough rice to feed their families. Total rice production increased little in the country during the 1990s, and yields were...