RISK AND THE EXTENT OF INSURANCE

Abstract

Households in developing countries are exposed to substantial income risk (weather, crop, price, illnesses, crime, etc.), and have been shown to engage in costly strategies to manage these risks. The two pillars of risk management are risk reduction and risk coping strategies. Risk avoidance and diversification try to reduce income risk, while coping mechanisms suc

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oai:CiteSeerX.psu:10.1.1.899.731Last time updated on 11/1/2017

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