Time vs. State in Insurance: Experimental Evidence from Contract Farming in Kenya Lorenzo Casaburi, Jack Willis Abstract The gains from insurance arise from the transfer of income across states. Yet, by requiring that the premium be paid upfront, standard insurance products also transfer income across time. We show that this intertemporal transfer can help explain […]
BREAD Working Paper No. 508, April 2017
Competition in Agricultural Markets: An Experimental Approach Lorenzo Casaburi, Tristan Reed Abstract This paper presents an experimental approach to measure competition in agricultural markets, based on the random allocation of subsidies to competing traders. We compare prices of subsidized and unsubsidized crop traders to recover the key mar- ket structure parameter in a standard model […]