The value of forecasts: Experimental evidence from developing-country agriculture

Project Active from to Sustainable Growth, Energy and Climate change

This study evaluates a novel risk-mitigation approach: long-range forecasts that provide information about the onset of the Indian summer monsoon well in advance of its arrival. By testing different combinations of forecast access and insurance offerings, the project measures farmers’ willingness to pay, belief updates, and whether these tools act as complements or substitutes in managing climate risk.