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Jurnal

JMR : JOURNAL OF MARKETING RESEARCH

Keyword

financial decision making, insurance, fild experiment, emerging markets

Pengarang

  1. Sarthak gaurav
  2. shawn cole
  3. jeremy tobacman

    Subject

    MARKETING

    [Abstrak]

     

    Recent financial liberalization in emerging
    economies has led to the rapid introduction of new fiancial products. Lack of
    experience with financial products, low levels of educations=, and low
    financial literacy may slow adoption of these products. This article reports on
    a field experiment that effered an innovative new financial product, rainfall
    insurance, to 600 small-scale farmers in india. A customized financial literacy
    and insurence education module communicating the need for personal financial management and the
    usefulness of normal hedging of agricultural production risks was offered to
    randomly selected farmers in gujarat, india. The authors evaluate the
    effect of the financial literacy
    training and three marketing tratments using a randomized controlled trial.
    Financial education has a positive and significant effect on raintall insurance
    adoption, increasing take-up from 8% to 16%. Only one marketing intervention,
    the money-back guarantee, has a consistent and large effect on farmers’
    purchase decisions. This guarantee, comparable to a price reduction of
    approximately 40%, increases demand by seven percentage points


    Periode

    Vol 48, Nomor SPE, Tahun 2011

    [Berkas]

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