Will marketing strategies affect farmers’ preferences and willingness to pay for catastrophe insurance? Evidence from a choice experiment in China

Tang, Yingmei; Cai, Huifang; Liu, Rongmao

doi:10.1007/s10668-021-01507-9

Cited by 5 publications

(2 citation statements)

References 48 publications

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“…Tang et al [20] examine WTP for WII in two provinces of China and find that influencing factors for insurance demand are different in the two provinces. These studies indicate that preference heterogeneity is related to not only social-economic features [15,18,21] but also geographical location [20]. Moreover, Aizaki et al [22] further show the heterogeneity in preference for insurance packages in Myanmar.…”

Section: Literature Reviewmentioning

confidence: 91%

Willingness to Pay for Weather-Indexed Insurance: Evidence from Cambodian Rice Farmers

Wang

Soksophors²,

Barlis

et al. 2022

Sustainability

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This study examines Cambodian rice farmers’ willingness to pay for the weather-indexed insurance (WII) proposed to manage the financial impact of shifting monsoon rainfall patterns in Battambang Province in north-western Cambodia. Detailed interviews are conducted in the districts of Bavel and Thma Koul. We first analyse farmer respondents’ socioeconomic and demographic characteristics, climate change perceptions and experience, risk attitudes, and awareness of insurance. The binary logistic model is used to identify factors that significantly impact farmers’ willingness to pay (WTP) for WII. Our results show that farmers in general had lower awareness of how to use innovative financial products to adapt to extreme weather. The results also demonstrate that farmer respondents’ marital status, the number of off-farm labourers, and the farm size have a positive effect, whereas the number of children in the household has a negative effect on farmers’ WTP for WII. Specifically, being married, an increase of one off-farm labourer, and an increase of one hectare (ha) of farmland increase the probability of demand for WII by 38.6%, 21.4%, and 5.1%, respectively. In contrast, an increase of one child reduces the probability of WII demand by 9.7%. We also identify challenges confronted by Cambodian farmers for participating in the proposed WII scheme and provide relevant recommendations to overcome these challenges.

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Section: Literature Reviewmentioning

confidence: 91%

Willingness to Pay for Weather-Indexed Insurance: Evidence from Cambodian Rice Farmers

Wang

Soksophors²,

Barlis

et al. 2022

Sustainability

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“…Furthermore, discrete choice experiments have been used to investigate farmers' preferences for insurance contract characteristics. While there are several DCE carried out in developing countries addressing farmers' preferences for insurance characteristics (Akter at al., 2016;Reynaud, Nguyen, Aubert, 2017;Ward and Makhija, 2018;Ali et al, 2021;Tang et al, 2022), there are only few that concern European farmers (Mercadé et al 2009;Liesivaara and Myyrä, 2017;Möllmann et al, 2019;Doherty et al, 2021;Čop et al, 2023) and there are no applications on Italian farmers. In conclusion, the literature review highlights the lack of a general framework to support the development of effective policies to promote RM solutions in agriculture.…”

Section: Explaining Risk Management Choicesmentioning

confidence: 99%

Towards a holistic approach to sustainable risk management in agriculture in the EU: a literature review

Arata,

Cerroni,

Santeramo

et al. 2023

BAE

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Agriculture is one of the sectors most exposed to a plethora of risky phenomena such as weather, pests and diseases, changes in prices and government policies, instability of global markets. We review the literature on risk management (RM) in agriculture focusing on five key issues: i) why evidence on RM is often controversial; ii) how farmers behave in selecting among available RM instruments; iii) why some of these instruments are underutilised; iv) how to assess the impacts of innovative RM tools to (further) improve their design; v) how agricultural policy measures aimed at increasing the environmental sustainability of the sector could affect RM choices. We address all these issues to get a holistic vision of RM, and point at areas where further analyses are needed.

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Agricultural insurance and risk management among poultry farmers in Ghana: An application of discrete choice experiment

Bannor¹,

Oppong-Kyeremeh²,

Amfo³

et al. 2023

Journal of Agriculture and Food Research

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Will marketing strategies affect farmers’ preferences and willingness to pay for catastrophe insurance? Evidence from a choice experiment in China

Cited by 5 publications

References 48 publications

Willingness to Pay for Weather-Indexed Insurance: Evidence from Cambodian Rice Farmers

Willingness to Pay for Weather-Indexed Insurance: Evidence from Cambodian Rice Farmers

Towards a holistic approach to sustainable risk management in agriculture in the EU: a literature review

Agricultural insurance and risk management among poultry farmers in Ghana: An application of discrete choice experiment

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