Barriers to Household Risk Management : : Evidence from India / / Robert Townsend, Shawn Cole, Jeremy Tobacman, Xavier Gine, James Vickery, Petia Topalova

• Autore: Townsend Robert
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
• Descrizione fisica: 1 online resource (44 p.)
• Soggetto topico: Financial risk - India; Risk management - India; Finance: General; Insurance; Macroeconomics; Industries: Financial Services; Insurance Companies; Actuarial Studies; Field Experiments; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance; Personal Finance; Portfolio Choice; Investment Decisions; Financial Institutions and Services: General; Education: General; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors; Macroeconomics: Consumption; Saving; Wealth; Insurance & actuarial studies; Finance; Education; Insurance companies; Consumption; Liquidity; Financial institutions; National accounts; Asset and liability management; Economics
• Soggetto geografico: United States
• Altri autori: ColeShawn TobacmanJeremy GineXavier VickeryJames TopalovaPetia
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: Cover; Abstract; Contents; I. Introduction; II. Insurance Contract Design and Summary Statistics; A. Product Description; B. Summary Statistics; III. Experimental Design; IV. Experimental Results; A. Andhra Pradesh; B. Gujarat: Video Experiments; C. Gujarat: Flyer Experiments; V. Discussion of Experimental Results; A. Price Relative to Actuarial Value; B. Trust; C. Liquidity Constraints; D. Financial Literacy and Education; E. Framing, Salience and Other Behavioral Factors; VI. Non-Experimental Evidence; A. Correlates of Insurance Purchase; B. Self-Reported Explanations for Non-Purchase ; VII. Improving Household Risk Management: Tentative Lessons and ConclusionsReferences; VIII. Appendix
• Sommario/riassunto: Why do many households remain exposed to large exogenous sources of non-systematic income risk? We use a series of randomized field experiments in rural India to test the importance of price and non-price factors in the adoption of an innovative rainfall insurance product. Demand is significantly price sensitive, but widespread take-up would not be achieved even if the product offered a payout ratio comparable to U.S. insurance contracts. We present evidence suggesting that lack of trust, liquidity constraints and limited salience are significant non-price frictions that constrain demand. We suggest contract design improvements to mitigate these frictions.
• Titolo autorizzato: Barriers to Household Risk Management
• ISBN: 1-4755-6547-X; 1-4755-1234-1
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910786486103321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2012/195