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STOCHASTIC WEALTH DYNAMICS AND RISK MANAGEMENT AMONG A POOR POPULATION AgEcon
Lybbert, Travis J.; Barrett, Christopher B.; Desta, Solomon; Coppock, D. Layne.
The literature on economic growth and development has focused considerable attention on questions of risk management and the possibility of multiple equilibria associated with poverty traps. We use herd history data collected among pastoralists in southern Ethiopia to study stochastic wealth dynamics among a very poor population. These data yield several novel findings. Although covariate rainfall shocks plainly matter, household-specific factors, including own herd size, account for most observed variability in wealth dynamics. Despite longstanding conventional wisdom about common property grazing lands, we find no statistical support for the tragedy of the commons hypothesis. It appears that past studies may have conflated costly self-insurance with...
Tipo: Working or Discussion Paper Palavras-chave: Common property; Covariate risk; Ethiopia; Idiosyncratic risk; Poverty traps; Social insurance; Risk and Uncertainty; O1; Q12.
Ano: 2002 URL: http://purl.umn.edu/14736
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Willingness to Pay for Improved Milk Sensory Characteristics and Assurances in Northern Kenya Using Experimental Auctions AgEcon
Wayua, Francis O.; Shibia, Mohamed G.; Mamo, Moses S.; Bailey, DeeVon; Coppock, D. Layne.
Pastoralists in northern Kenya may be able to diversify income by selling milk in nearby towns and cities. However, milk sold in open-air markets in communities in northern Kenya is often of low quality in terms of its sensory characteristics. The milk is also often adulterated before sale. These markets are characterized by poor consumers who need to make choices about milk quality with virtually no information other than their own sensory perceptions. These conditions are similar in many parts of the world for many different commodities and products. An examination was undertaken using experimental auctions to determine if consumers in the border town of Moyale, Kenya are willing to pay for enhanced milk sensory characteristics and assurances. The...
Tipo: Journal Article Palavras-chave: Willingness-to-pay; Milk; Kenya; Agribusiness; Agricultural Finance; Q10; Q14.
Ano: 2009 URL: http://purl.umn.edu/53797
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LIVESTOCK PRICING IN THE NORTHERN KENYAN RANGELANDS AgEcon
Barrett, Christopher B.; Chabari, Francis; Bailey, DeeVon; Coppock, D. Layne; Little, Peter D..
This paper uses detailed, transactions-level data and a structural-heteroskedasticity-in-mean model to identify the determinants of livestock producer prices for pastoralists in the drylands of northern Kenya. The empirical results confirm the importance of animal characteristics, periodic events that predictably shift local demand or supply, and especially rainfall on the prices pastoralists receive for animals. Price risk premia are consistently negative in these livestock markets. The imposition of quarantines has a sharp negative effect on expected producer prices in the pastoral areas, revealing a distributionally regressive approach to animal disease control in Kenya.
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis; Livestock Production/Industries.
Ano: 2001 URL: http://purl.umn.edu/20460
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