Patterns of Rainfall Insurance Participation in Rural India
研究了印度小农户购买降雨保险的决定因素，发现基差风险、财富和信贷约束影响参与，而风险厌恶者反而更少购买，可能与产品不熟悉有关。
Take-up of an innovative rainfall insurance policy offered to smallholder farmers in rural India decreases with basis risk between insurance payouts and income fluctuations, increases with household wealth, and decreases with binding credit constraints. These results are consistent with the predictions of a simple neoclassical model with borrowing constraints. Other patterns are less consistent with the benchmark model. For example, participation in village networks and measures of familiarity with the insurance vendor are strongly correlated with insurance take-up decisions, and risk-averse households are less, not more, likely to purchase insurance. These results may reflect household uncertainty about the product, given their limited experience with it.