I develop and estimate a dynamic stochastic optimization model to assess the impact of weather insurance on the consumption, investment, and welfare of farmers in developing countries. Weather insurance has the potential to provide large welfare gains, equivalent to a permanent increase in...

Heterogeneity in time discounting may reinforce the existing barriers to save and invest faced by rural populations in developing countries. We elicit a subjective discount rate for a varied sample of Ugandan villagers. In accordance with other studies, we have found the discount rate to...

Heterogeneity in time discounting may reinforce the existing barriers to save and invest faced by rural populations in developing countries. We elicit a subjective discount rate for a varied sample of Ugandan villagers. In accordance with other studies, we have found the discount rate to...

Attitudes toward risk underlie virtually every important economic decision an individual makes. In this experimental study, I examine how introducing a time delay into the execution of an investment plan influences individuals' risk preferences. The field experiment proceeded in three stages: a...

This paper studies the influence of credit on children's schooling using data from Pakistan. It shows that credit need not increase the likelihood of school attendance for children who work in their household's non-farm enterprise. Moreover, credit obtained for investment purposes may reduce the...

Investors all too often assign a uniform broad - brush risk rating to Sub-Saharan Africa. Yet, with over 40 nations and a landmass nearly twice that of Europe, there is clearly reason to suggest risk - return in Sub-Saharan Africa is unique across countries and specific to local experiences. In...

The relationship between land investment and tenure security is usually tested in land scarce but peaceful areas. This article examines instead the effects of land abundance and war for investment and tenure security. The paper demonstrates that war enhances land abundance. This implies that...

The relationship between land investment and tenure security is usually tested in land scarce but peaceful areas. This article examines instead the effects of land abundance and war for investment and tenure security. The paper demonstrates that war enhances land abundance. This implies that...

We use household survey data to investigate the effects of formal, private property rights to agricultural land on agricultural investment, land valuation and access to credit in Tanzania. Results show that while there are no detectable effects of formal, private land property rights (written...