This paper estimates the causal effects of index insurance coverage on subjective well-being among livestock herders in southern Ethiopia. The randomization of incentives to purchase index-based livestock insurance and three rounds of panel data are exploited to separately identify ex ante...

The African natural and policy environment can be quite risky. Particularly in rural areas, weather and pests are a constant threat to livelihood, as are the vagaries of world markets and government policy. Not surprisingly, African households have developed approaches to mitigation of, and...