Do Caste and Social Interactions Affect Risk Attitudes and Adoption of Microinsurance? Evidence from Rainfall Insurance Adoption in Gujarat, India

  • Date Posted: November 26, 2012
  • Authors: Ashish Singh, Sarthak Gaurav, Thiagu Ranganathan
  • Organizations: ILO's Microinsurance Innovation Facility
  • Document Types: Evidence or Research, Evidence or Research
  • Donor Type: Multilateral Organization

The paper looks into the social context within which risk attitudes are formed and participation decisions are made, using microdata from rural households in Gujarat, India. Both caste affiliation and social interaction are found to significantly affect the risk attitudes of farmers. Furthermore, social interaction seems to have a significant influence on the adoption of rainfall insurance.

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