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Basis Risk and the Welfare Gains from Index Insurance: Evidence from Northern Kenya
2014
Social Science Research Network
Index insurance products circumvent many of the transaction costs and asymmetric information problems that obstruct provision of low value conventional insurance policies in developing countries. Recent years have seen tremendous growth in index insurance pilots in developing countries, but there has been little progress in our understanding of the quality of those products. Basis risk, or remaining uninsured risk, is a widely recognized, but rarely measured drawback of index insurance that
doi:10.2139/ssrn.2505764
fatcat:3k3v5azkrjdydbzryfclrwsj6m