| Livestock plays a pivotal role for smallholder production systems in mountainous Northern Vietnam. Poor rural farm households are vulnerable and their livelihood systems are often so fragile and finely-balanced that a small misfortune can destabilize the households for many years. Economic risks, especially loss of livestock, are one of the major reasons for slipping into poverty. Normally, insurance systems could step in here. In developing countries however, insurance markets are usually underdeveloped. Empirical research reveals that raising livestock and selling it in case of a livelihood emergency is a particularly popular risk management strategy. Based on the results of a computer-based Adaptive Conjoint Analysis (ACA) with 155 responding households... |
