Assurance complète, hétérogénéité des préférences et métayage au Pakistan

Pierre Dubois

Annals of Economics and Statistics, 2000, issue 59, 1-35

Abstract: Most of the empirical tests reject the complete markets hypothesis, but have serious methodological problems concerning the identification of preferences, the direction of the tests and their power. We study the risk sharing and consumption insurance achieved by rural households from three provinces of Pakistan dealing with these methodological problems and taking into account that preferences are heterogeneous. At last, we show that in Pakistan, agricultural contracts play an important role in risk sharing when markets are incomplete since households able to use sharecropping contracts, which permits to share production risks, are better insured.

Date: 2000
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