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| Title: | Risk, Implicit Contracts and the Family in Rural Areas of Low-Income Countries |
| Authors: | Rosenzweig, Mark R. |
| Issue Date: | 1986 |
| Series/Report no.: | Bulletin 86-6 |
| Abstract: | In this paper the role of family structure in mitigating income volatility
in the absence of income insurance in low-income agricultural environments
is discussed. Hypotheses concerning the relationship between the membership,
size and composition of households and insurance-based income transfers are
tested using longitudinal data from India. A test is also performed of whether
a household's ability to reduce risk ex post via family arrangements affects its
willingness tobear risk ex ante through its selection of formal tenancy
contracts. The results support these hypotheses concerning the risk-mitigating
roles of both household structure and share contracts, and indicate as well the
importance of heterogeneity in risk-aversion across households. |
| URI: | http://purl.umn.edu/7518 |
| Institution/Association: | University of Minnesota>Economic Development Center>Bulletins |
| Total Pages: | 23 |
| Language: | English |
| Collections: | Bulletins
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