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Open AccessArticle

Willingness to Pay for Livestock Husbandry Insurance: An Empirical Analysis of Grassland Farms in Inner Mongolia, China

1
Institute of Grassland Research, Chinese Academy of Agricultural Sciences, Hohhot 010010, China
2
Sustainable Environment Food and Agriculture Initiative, Lagos 104101, Nigeria
3
Institute of Agricultural Information, Chinese Academy of Agricultural Sciences, Beijing 100081, China
*
Author to whom correspondence should be addressed.
Sustainability 2020, 12(18), 7331; https://doi.org/10.3390/su12187331
Received: 5 August 2020 / Revised: 30 August 2020 / Accepted: 2 September 2020 / Published: 7 September 2020
(This article belongs to the Section Sustainable Urban and Rural Development)
Livestock husbandry insurance (LHI) is increasingly gaining acceptance in developing countries, relative to its efficacy in mitigating the covariate risks faced by households in vulnerable agrarian communities. However, this risk-mitigating tool has received little research attention in the context of Chinese herders. The current study focused on the status, and determinants of herders’ willingness to purchase LHI. We used a contingent valuation approach to collect data from 450 households across three grassland types in Inner Mongolia. Descriptive statistics and binary logistic regression models were used to analyze the collected data. We show that herders’ level of awareness and acceptance of LHI are below expectations. Our results further indicated that herders with higher education level, livestock number, risk perception level, awareness, and contracted grassland area are more likely to purchase LHI. Policymakers and insurers should design programs that will educate herders on LHI while taking cognizance of other critical factors that influence households to purchase insurance. This will go a long way in scaling-up the attractiveness of LHI to herders and the agrarian community at large. View Full-Text
Keywords: risk; insurance; livestock; grassland; policy risk; insurance; livestock; grassland; policy
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MDPI and ACS Style

Dong, H.; Jimoh, S.O.; Hou, Y.; Hou, X. Willingness to Pay for Livestock Husbandry Insurance: An Empirical Analysis of Grassland Farms in Inner Mongolia, China. Sustainability 2020, 12, 7331.

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