Risk Sharing and Network Formation
研究风险分担网络是否以最大化收入风险共担的互利收益为目标而形成，利用菲律宾农村调查数据实证分析社会与地理距离对网络形成的影响。
In this paper we examine whether risk sharing networks are formed so as to maximize the mutual gains from pooling income risk. The bene t from risk pooling is largest when households have different income pro les - e.g., different occupations - and are subjected to di¤erent sources of risk - e.g., live far apart. Gains from risk sharing therefore increase with social and geographical distance. But distance also raises the cost of interpersonal links. The net e¤ect on link formation is a priori indeterminate. We investigate this issue empirically using survey data from the rural Philippines.