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Agricultural Finance Review ; ahead-of-print(ahead-of-print):28, 2022.
Article in English | Web of Science | ID: covidwho-1684951


Purpose This paper investigates Chinese agricultural insurance agents willingness to offer (WTO) livestock insurance based on the variations of eight main attributes of livestock insurance. Design/methodology/approach This study implements discrete choice experiments (DCE) with actual insurance agents who design, sell and operate livestock insurance in China. The choice experiment of this study is based on the D-optimal approach, a six-block design, with 15 cards per block and two choices per card. The sample size was 211. Econometrics results are based on conditional and mixed logit models. Findings The authors find that the subsidy effect is enormous;a one level increase of subsidy leads to 3.166 times higher probability to offer. This subsidy effect is important as it confirms the endogenous structure between price and quantity in insurance offering, where subsidy does not only incentivize demand but also the supply. Another main factor of insurance investigated is the impact of different coverage types on agents' WTO. The authors find that agents prefer mortality insurance the most, followed by revenue insurance and profit insurance, while Index-Based Livestock Insurance (IBLI) is the least preferred to offer. Agents' knowledge about these newer types of insurance supports their WTO as well;thus, proper education is necessary to promote the more advanced types of livestock insurance. Research limitations/implications A limitation is that in the presence of COVID 19, and administrative issues at the local level, the sample was not randomly drawn. Nonetheless, the authors believe that there is enough diversity across participants, insurers and provinces and have done sufficient robustness checks to support results and conclusions. Practical implications This study provides further validation for the DCE research method that could potentially be applied to different analyses: using choice experiments to study insurers and reveal their preferences, through combinations of various levels of core attributes for insurance products. The findings and contribution are critical to the reform and improvement of livestock insurance in China and for insurance markets more broadly. The authors find that insurers do not place equal weights or values on insurance product attributes and do not view types of insurance equally. In other words, while farmers may hold different preferences about the type of insurance they demand, the results suggest that insurers also hold preferences in the type of insurance they sell. Originality/value So far as the authors are aware, this is the first DCE designed around the supply of insurance products with the subjects being insurance agents, marketers and executives.

China & World Economy ; 29(6):95-116, 2021.
Article in English | Web of Science | ID: covidwho-1537809


China managed to eliminate all extreme poverty in rural areas in 2020. Poor households, however, may risk falling back into poverty due to the COVID-19. This paper examines the impacts of the pandemic on wages and household incomes among different groups in poor areas of rural China. Using a unique dataset from five poverty-stricken counties, we found that the pandemic has had large negative effects on wage income for migrant workers and workers in manufacturing, the private sector, and small enterprises. Compared with households relying on wage income, households relying on small businesses have suffered much more from the pandemic, whereas households depending on farming or transfer payments have been less affected. Although poor and ethnic minority households lost significant amounts of wage income due to the pandemic, they did not lose more household income than nonpoor and nonminority households. We conclude that support from the government has kept vulnerable households from suffering more than other households from the effects of COVID-19. Our findings suggest that the government can play a strong role in alleviating the negative impacts of the COVID-19.

Bulletin of the Hospital for Joint Diseases ; 78(4):221-226, 2020.
Article in English | Web of Science | ID: covidwho-964197


The COVID-19 pandemic has had unprecedented impact on the United States health care system. One of the considerations was the decision to halt elective orthopedic surgery to preserve consumption of scarce resources. However, as the number of COVID-19 cases decrease, there will be discussions regarding the modality of resuming elective orthopedic surgery. Ethical considerations will come to the forefront in terms of determining the best course of action, patient selection, resource rationing, and financial implications. These factors will be examined through the lens of the four tenets of bioethics, beneficence, maleficence, autonomy, and justice, to elucidate the best approach in ethically managing elective orthopedic surgery during a global pandemic.