| Title |
A double-hurdle model estimation of cocoa farmers’ willingness to pay for crop insurance in Ghana
|
|---|---|
| Published in |
SpringerPlus, June 2016
|
| DOI | 10.1186/s40064-016-2561-2 |
| Pubmed ID | |
| Authors |
Elvis Dartey Okoffo, Elisha Kwaku Denkyirah, Derick Taylor Adu, Benedicta Yayra Fosu-Mensah |
| Abstract |
Agriculture is an important sector in Ghana's economy, however, with high risk due to natural factors like climate change, pests and diseases and bush fires among others. Farmers in the Brong-Ahafo region of Ghana which is known as one of the major cocoa producing regions, face these risks which sometimes results in crop failure. The need for farmers to therefore insure their farms against crop loss is crucial. Insurance has been a measure to guard against risk. The aim of this study was to assess cocoa farmers' willingness to access crop insurance, the factors affecting willingness to pay (WTP) for crop insurance scheme and insurance companies' willingness to provide crop insurance to cocoa farmers. Multi-stage sampling technique was used to sample 240 farmers from four communities in the Dormaa West District in Brong-Ahafo Region. The double-hurdle model shows that age, marital status and education significantly and positively influenced cocoa farmer's willingness to insure their farms whiles household size and cropped area negatively influenced farmers' willingness to insure their farms. Similarly, age, household size and cropped area significantly and positively influenced the premium cocoa farmers were willing to pay whiles marital status and cocoa income negatively influenced the premium farmers were willing to pay. The contingent valuation method shows that the maximum, minimum and average amounts cocoa farmers are willing to pay for crop insurance per production cost per acre was GH¢128.40, GH¢32.10 and GH¢49.32 respectively. Insurance companies do not have crop insurance policy but willing to provide crop insurance policy to cocoa farmers on a condition that farmers adopt modern cultivation practices to reduce the level of risk. The study recommends that cocoa farmers should be well educated on crop insurance and should be involved in planning the crop insurance scheme in order to conclude on the premium to be paid by them. |
X Demographics
The data shown below were collected from the profile of 1 X user who shared this research output. Click here to find out more about how the information was compiled.
Geographical breakdown
| Country | Count | As % |
|---|---|---|
| Spain | 1 | 100% |
Demographic breakdown
| Type | Count | As % |
|---|---|---|
| Members of the public | 1 | 100% |
Mendeley readers
The data shown below were compiled from readership statistics for 168 Mendeley readers of this research output. Click here to see the associated Mendeley record.
Geographical breakdown
| Country | Count | As % |
|---|---|---|
| United States | 1 | <1% |
| Unknown | 167 | 99% |
Demographic breakdown
| Readers by professional status | Count | As % |
|---|---|---|
| Student > Master | 32 | 19% |
| Student > Ph. D. Student | 29 | 17% |
| Researcher | 16 | 10% |
| Student > Bachelor | 16 | 10% |
| Student > Doctoral Student | 11 | 7% |
| Other | 23 | 14% |
| Unknown | 41 | 24% |
| Readers by discipline | Count | As % |
|---|---|---|
| Agricultural and Biological Sciences | 34 | 20% |
| Economics, Econometrics and Finance | 32 | 19% |
| Environmental Science | 11 | 7% |
| Business, Management and Accounting | 11 | 7% |
| Social Sciences | 8 | 5% |
| Other | 23 | 14% |
| Unknown | 49 | 29% |
Attention Score in Context
This research output has an Altmetric Attention Score of 4. This is our high-level measure of the quality and quantity of online attention that it has received. This Attention Score, as well as the ranking and number of research outputs shown below, was calculated when the research output was last mentioned on 22 March 2021.
All research outputs
#8,028,774
of 25,559,053 outputs
Outputs from SpringerPlus
#464
of 1,876 outputs
Outputs of similar age
#122,978
of 369,036 outputs
Outputs of similar age from SpringerPlus
#69
of 278 outputs
Altmetric has tracked 25,559,053 research outputs across all sources so far. This one has received more attention than most of these and is in the 67th percentile.
So far Altmetric has tracked 1,876 research outputs from this source. They typically receive a little more attention than average, with a mean Attention Score of 6.1. This one has gotten more attention than average, scoring higher than 74% of its peers.
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We're also able to compare this research output to 278 others from the same source and published within six weeks on either side of this one. This one has gotten more attention than average, scoring higher than 74% of its contemporaries.