{"title":"Farmers′ preferences for reductions in flood risk under monetary and non-monetary payment modes","authors":"Ståle Navrud , Godwin K. Vondolia","doi":"10.1016/j.wre.2019.100151","DOIUrl":null,"url":null,"abstract":"<div><p>We use a split-sample choice experiment to investigate the effects of alternative payment modes on the purchase of flood insurance among smallholder irrigation farmers in Ghana. Results show that insurance up-take is lower for insurance premium payments required in labour than comparable premiums required in harvest and money. The marginal willingness-to-pay for a one-year reduction in flood frequency is about 6 h in labour time, 30 kg in rice and 144 Ghana Cedis (US$37) per annum. The price elasticities of demand for flood insurance indicate an inelastic demand for insurance premiums under these three payment modes. In addition to revealing strong preferences for flood risk reduction among farmers in this region, these results imply that subsidy policies may be inadequate in increasing the purchase of weather insurance under these three payment modes.</p></div>","PeriodicalId":48644,"journal":{"name":"Water Resources and Economics","volume":null,"pages":null},"PeriodicalIF":2.3000,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.wre.2019.100151","citationCount":"14","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Water Resources and Economics","FirstCategoryId":"93","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2212428419300325","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 14
Abstract
We use a split-sample choice experiment to investigate the effects of alternative payment modes on the purchase of flood insurance among smallholder irrigation farmers in Ghana. Results show that insurance up-take is lower for insurance premium payments required in labour than comparable premiums required in harvest and money. The marginal willingness-to-pay for a one-year reduction in flood frequency is about 6 h in labour time, 30 kg in rice and 144 Ghana Cedis (US$37) per annum. The price elasticities of demand for flood insurance indicate an inelastic demand for insurance premiums under these three payment modes. In addition to revealing strong preferences for flood risk reduction among farmers in this region, these results imply that subsidy policies may be inadequate in increasing the purchase of weather insurance under these three payment modes.
期刊介绍：
Water Resources and Economics is one of a series of specialist titles launched by the highly-regarded Water Research. For the purpose of sustainable water resources management, understanding the multiple connections and feedback mechanisms between water resources and the economy is crucial. Water Resources and Economics addresses the financial and economic dimensions associated with water resources use and governance, across different economic sectors like agriculture, energy, industry, shipping, recreation and urban and rural water supply, at local, regional and transboundary scale.
Topics of interest include (but are not restricted to) the economics of:
Aquatic ecosystem services-
Blue economy-
Climate change and flood risk management-
Climate smart agriculture-
Coastal management-
Droughts and water scarcity-
Environmental flows-
Eutrophication-
Food, water, energy nexus-
Groundwater management-
Hydropower generation-
Hydrological risks and uncertainties-
Marine resources-
Nature-based solutions-
Resource recovery-
River restoration-
Storm water harvesting-
Transboundary water allocation-
Urban water management-
Wastewater treatment-
Watershed management-
Water health risks-
Water pollution-
Water quality management-
Water security-
Water stress-
Water technology innovation.
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