This paper tests the broadly adopted assumption that people apply a single discount rate to the utility from different sources of consumption. Using unique data from two surveys conducted in rural Uganda including both hypothetical and real choices over different goods, the paper elicits time...

This paper analyses the effects of disease and war on the accumulation of human and physical capital. We employ an overlapping-generations frame-work in which young adults, confronted with such hazards and motivated by old-age provision and altruism, make decisions about investments in schooling...

Evidence is found of two distinct patterns of response to the onset of the recent drought in rural Ethiopia. Agricultural Households with pre-shock cattle holdings of three or more animals effectively used these assets as a buffer against the fall in agricultural income. In contrast, households...