New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India

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dc.creatorWard, Patrick S.
dc.creatorMakhija, Simrin
dc.date2018-07-31
dc.date2024-06-21T09:04:33Z
dc.date2024-06-21T09:04:33Z
dc.date.accessioned2026-06-27T15:14:40Z
dc.descriptionDroughts have historically had large impacts on agricultural production in rainfed agricultural systems. Scientists and policymakers have proposed various strategies for managing risks, with limited success. In this study we consider two such strategies, specifically drought tolerant rice and weather index insurance. While neither drought tolerant cultivars nor weather index insurance products are perfect solutions for adequately managing drought risk in and of themselves, there is scope to exploit the benefits of each and bundle them into a complementary risk management product, specifically through proper index calibration and an optimized insurance design. In this study, we explore preferences for such a complementary risk management product using discrete choice experiments in Odisha, India. We are able to estimate the added value that farmers perceive in the bundled product above and beyond the value associated with each of the independent products. We also show that valuations are very sensitive to the basis risk implied by the insurance product, with farmers less enthusiastic about risk management products that leave significant risks uninsured.
dc.identifierhttps://hdl.handle.net/10568/145474
dc.identifier.urihttp://hdl.handle.net/123456789/98706
dc.languageen
dc.publisherElsevier
dc.relationhttps://hdl.handle.net/10568/148052
dc.relationhttps://hdl.handle.net/10568/148053
dc.rightsOpen Access
dc.sourceWard, Patrick S.; and Makhija, Simrin. 2018. New modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India. World Development 107 (July 2018): 163-175. https://doi.org/10.1016/j.worlddev.2018.03.002
dc.subjectrisk management
dc.subjectrice
dc.subjectweather index insurance
dc.subjectcrop insurance
dc.subjectdrought
dc.subjectdrought tolerance
dc.subjectrainfed farming
dc.titleNew modalities for managing drought risk in rainfed agriculture: Evidence from a discrete choice experiment in Odisha, India
dc.typeJournal Article

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Instituto Internacional de Investigación sobre Políticas Alimentarias (IFPRI)