Extreme weather and demand for index insurance in rural India
利用历史降水数据识别极端天气事件，结合随机家庭面板数据，研究极端天气经历如何影响印度农民购买指数保险的决策。发现前一年收获期过量降雨增加保险需求，而种植和生长期降雨不足无影响，这与灌溉条件有关。
Index insurance appeared recently in developing countries with the expectation to improve agricultural output and living standards in general. We investigate how experiencing extreme weather events affects farmers’ decision to purchase index insurance in India. Extreme weather events are identified from historical precipitation data and matched with a randomised household panel. Excessive rainfall in previous years during the harvest increases the insurance demand, while lack of rainfall in the planting and growing periods has no effect. The latter can be explained by access to irrigation, underscoring the importance of the local context when developing insurance products to accommodate environmental risks.