Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh

This paper investigates if climate change skepticism, farmers’ fatalistic beliefs, and insurance plan design influence interest in crop weather insurance. While studies of the influence of fatalism on disaster preparedness are common, the ways in which fatalism influences climate change skepticism,...

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Authors: Akter, S., Krupnik, T.J., Khanam, F.
Format: article
Status:Published version
Publication Date:2017
Country:México
Institution:Centro Internacional de Mejoramiento de Maíz y Trigo
Repository:Repositorio Institucional de Publicaciones Multimedia del CIMMYT
OAI Identifier:oai:repository.cimmyt.org:10883/18868
Online Access:http://hdl.handle.net/10883/18868
Access Level:Open access
Keyword:AGRICULTURAL SCIENCES AND BIOTECHNOLOGY
Weather Index Insurance
Skepticism
Choice Experiment
CLIMATE CHANGE ADAPTATION
MAIZE
AGRICULTURAL INSURANCE
DISASTER PREPAREDNESS
FARMERS' ATTITUDES
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spelling Climate change skepticism and index versus standard crop insurance demand in coastal BangladeshAkter, S.Krupnik, T.J.Khanam, F.AGRICULTURAL SCIENCES AND BIOTECHNOLOGYWeather Index InsuranceSkepticismChoice ExperimentCLIMATE CHANGE ADAPTATIONMAIZEAGRICULTURAL INSURANCEDISASTER PREPAREDNESSFARMERS' ATTITUDESThis paper investigates if climate change skepticism, farmers’ fatalistic beliefs, and insurance plan design influence interest in crop weather insurance. While studies of the influence of fatalism on disaster preparedness are common, the ways in which fatalism influences climate change skepticism, and in turn affects farmers’ interest in crop insurance, have not been previously investigated. An additional objective was to understand farmers’ preferences for index versus standard insurance options, the former entailing damage compensation based on post-hazard assessment, the latter tying damage compensation to a set of weather parameter thresholds. A discrete choice experiment was conducted with maize farmers on a climate-risk prone island in coastal Bangladesh. Most farmers were insurance averse. Those who chose insurance were however significantly more likely to select standard as opposed to index-based insurance. Insurance demand was significantly and positively correlated with farmers’ concern about the adverse livelihood impacts of climate change. Farmers who exhibited fatalistic views regarding the consequences of climate change were significantly less likely to opt for insurance of either kind. These findings imply that the prospect for farmers’ investment in insurance is conditioned by their understanding of climate change risks and the utility of adaptation, in addition to insurance scheme design.2455-2466Springer Verlag2017-08-23T15:41:22Z2017-08-23T15:41:22Z2017info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlePDFapplication/pdfhttp://hdl.handle.net/10883/1886810.1007/s10113-017-1174-9817Regional Environmental Changereponame:Repositorio Institucional de Publicaciones Multimedia del CIMMYTinstname:Centro Internacional de Mejoramiento de Maíz y Trigoinstacron:CIMMYTEnglishhttps://static-content.springer.com/esm/art%3A10.1007%2Fs10113-017-1174-9/MediaObjects/10113_2017_1174_MOESM1_ESM.docxBANGLADESHHeidelberg, GermanyCIMMYT manages Intellectual Assets as International Public Goods. The user is free to download, print, store and share this work. In case you want to translate or create any other derivative work and share or distribute such translation/derivative work, please contact CIMMYT-Knowledge-Center@cgiar.org indicating the work you want to use and the kind of use you intend; CIMMYT will contact you with the suitable license for that purpose.Open Accessinfo:eu-repo/semantics/openAccessoai:repository.cimmyt.org:10883/188682024-10-11T19:57:39Z
dc.title.none.fl_str_mv Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
title Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
spellingShingle Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
Akter, S.
AGRICULTURAL SCIENCES AND BIOTECHNOLOGY
Weather Index Insurance
Skepticism
Choice Experiment
CLIMATE CHANGE ADAPTATION
MAIZE
AGRICULTURAL INSURANCE
DISASTER PREPAREDNESS
FARMERS' ATTITUDES
title_short Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
title_full Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
title_fullStr Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
title_full_unstemmed Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
title_sort Climate change skepticism and index versus standard crop insurance demand in coastal Bangladesh
dc.creator.none.fl_str_mv Akter, S.
Krupnik, T.J.
Khanam, F.
author Akter, S.
author_facet Akter, S.
Krupnik, T.J.
Khanam, F.
author_role author
author2 Krupnik, T.J.
Khanam, F.
author2_role author
author
dc.subject.none.fl_str_mv AGRICULTURAL SCIENCES AND BIOTECHNOLOGY
Weather Index Insurance
Skepticism
Choice Experiment
CLIMATE CHANGE ADAPTATION
MAIZE
AGRICULTURAL INSURANCE
DISASTER PREPAREDNESS
FARMERS' ATTITUDES
topic AGRICULTURAL SCIENCES AND BIOTECHNOLOGY
Weather Index Insurance
Skepticism
Choice Experiment
CLIMATE CHANGE ADAPTATION
MAIZE
AGRICULTURAL INSURANCE
DISASTER PREPAREDNESS
FARMERS' ATTITUDES
description This paper investigates if climate change skepticism, farmers’ fatalistic beliefs, and insurance plan design influence interest in crop weather insurance. While studies of the influence of fatalism on disaster preparedness are common, the ways in which fatalism influences climate change skepticism, and in turn affects farmers’ interest in crop insurance, have not been previously investigated. An additional objective was to understand farmers’ preferences for index versus standard insurance options, the former entailing damage compensation based on post-hazard assessment, the latter tying damage compensation to a set of weather parameter thresholds. A discrete choice experiment was conducted with maize farmers on a climate-risk prone island in coastal Bangladesh. Most farmers were insurance averse. Those who chose insurance were however significantly more likely to select standard as opposed to index-based insurance. Insurance demand was significantly and positively correlated with farmers’ concern about the adverse livelihood impacts of climate change. Farmers who exhibited fatalistic views regarding the consequences of climate change were significantly less likely to opt for insurance of either kind. These findings imply that the prospect for farmers’ investment in insurance is conditioned by their understanding of climate change risks and the utility of adaptation, in addition to insurance scheme design.
publishDate 2017
dc.date.none.fl_str_mv 2017-08-23T15:41:22Z
2017-08-23T15:41:22Z
2017
dc.type.none.fl_str_mv info:eu-repo/semantics/publishedVersion
info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.none.fl_str_mv http://hdl.handle.net/10883/18868
10.1007/s10113-017-1174-9
url http://hdl.handle.net/10883/18868
identifier_str_mv 10.1007/s10113-017-1174-9
dc.language.none.fl_str_mv English
language_invalid_str_mv English
dc.relation.none.fl_str_mv https://static-content.springer.com/esm/art%3A10.1007%2Fs10113-017-1174-9/MediaObjects/10113_2017_1174_MOESM1_ESM.docx
dc.rights.none.fl_str_mv Open Access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Open Access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv PDF
application/pdf
dc.coverage.none.fl_str_mv BANGLADESH
Heidelberg, Germany
dc.publisher.none.fl_str_mv Springer Verlag
publisher.none.fl_str_mv Springer Verlag
dc.source.none.fl_str_mv 8
17
Regional Environmental Change
reponame:Repositorio Institucional de Publicaciones Multimedia del CIMMYT
instname:Centro Internacional de Mejoramiento de Maíz y Trigo
instacron:CIMMYT
instname_str Centro Internacional de Mejoramiento de Maíz y Trigo
instacron_str CIMMYT
institution CIMMYT
reponame_str Repositorio Institucional de Publicaciones Multimedia del CIMMYT
collection Repositorio Institucional de Publicaciones Multimedia del CIMMYT
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,81155

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