Smallholder farmers are increasingly exposed to weather extremes but lack access to affordable insurance products for … catastrophic crop damage. This paper analyzes the feasibility of Picture-Based Insurance (PBI) as a low-cost tool to improve … coverage. PBI verifies insurance claims using smartphone pictures of insured plots, taken by farmers themselves, to minimize …

I develop and estimate a dynamic stochastic optimization model to assess the impact of weather insurance on the … consumption, investment, and welfare of farmers in developing countries. Weather insurance has the potential to provide large … liquidity constraints, basis risk, and loading factor on the insurance premium may account for the low take-up that is often …

In "The Tragedy of the Commons," Garrett Hardin argues that those who can use a resource for free consume more of it … commons is a temporal phenomenon and not just a physical one …

The novel insurance contracts for crop losses and livestock mortality that have been developed in low income countries … this lacuna, this paper studies the effect of a low-cost intervention that reformulates a livestock insurance contract so … insurance (without subsidy), compared to only 13\% of previously subsidized households offered insurance under the standard male …

management approaches may ameliorate “tragedy of the commons” effects. Using a randomized evaluation in Namibia’s communal …

Despite its promise to help low-wealth households manage climate risk, index insurance remains hampered by downside … basis risk, meaning that an insured party suffers a loss, but receives no payment because the insurance index fails to … focuses on the creation of statistically rigorous insurance zones that minimize downside basis risk. In contrast to our …

This paper provides novel evidence on how risk exposure shapes the demand for index-based weather insurance. The focus … is on Mongolia, where index insurance is offered as a commercially marketed product to pastoralists threatened by extreme … spanning a period of five years, this paper shows that the demand for index insurance increases in areas exposed to adverse …