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
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (44 p.)
• Disciplina: 332.1;332.152
• Soggetto topico: Financial risk - India; Risk management - India; Actuarial Studies; Asset and liability management; Consumption; Corporate Finance and Governance; Economic Development: Financial Markets; Economics; Education; Education: General; Field Experiments; Finance; Finance: General; Financial Institutions and Services: General; Financial institutions; Financial Instruments; Industries: Financial Services; Institutional Investors; Insurance & actuarial studies; Insurance Companies; Insurance companies; Insurance; Investment Decisions; Liquidity; Macroeconomics; Macroeconomics: Consumption; National accounts; Non-bank Financial Institutions; Pension Funds; Personal Finance; Portfolio Choice; Saving and Capital Investment; Saving; Wealth
• Soggetto geografico: United States
• Altri autori: ColeShawn GineXavier TobacmanJeremy TopalovaPetia VickeryJames
• 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.: 9910817309503321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2012/195