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Agricultural Risk Management Through Index-based Microinsurance Exploring the Feasibility of Demand Perspective

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dc.contributor.author Heenkenda, Shirantha
dc.date.accessioned 2015-08-20T08:26:05Z
dc.date.available 2015-08-20T08:26:05Z
dc.date.issued 2011
dc.identifier.citation Heenkenda, S. (2011). Agricultural Risk Management through Index-based Microinsurance Exploring the Feasibility of Demand Perspective. Vidyodaya Journal of Humanities and Social Sciences, 03, 127-154.
dc.identifier.uri http://dr.lib.sjp.ac.lk/handle/123456789/1882
dc.description Department of Economics University of Sri Jayewardenepura en_US
dc.description.abstract The main objective of this study is to explore, from a demand perspective, the feasibility of an index-based microinsurance scheme (IBMS) for paddy crop cultivated by small-scale (peasant) farmers in Sri Lanka to protect them against the production loss caused by natural disasters. The contingent valuation method (CV) has been used to elicit the insurance demands (i.e. willingness to pay) for the hypothetical IBMS. The results show that the interest in joining IBMS is 88% (SD=2.4%) overall and the strongest influence factors on farmers' willingness to join are age, total household expenditure and, awareness of crop insurance. However, willingness to pay determinantvaries significantly on spatial and insurance contracts, indicatinga potential for a discriminating and flexible policy in the insurance scheme. This means that insurance policies concerning crop insurance product should be designed and implemented with synergies of different approaches in microinsurance, rather than as a uniform structure. en_US
dc.language.iso en en_US
dc.subject Contingent valuation en_US
dc.subject Index-based insurance en_US
dc.subject Microinsurance en_US
dc.subject Willingness to pay en_US
dc.title Agricultural Risk Management Through Index-based Microinsurance Exploring the Feasibility of Demand Perspective en_US
dc.type Article en_US
dc.date.published 2013


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