Small farmers’ preferences for weather index insurance: insights from Kenya

Table 6 Marginal willingness to pay for WII attributes

Variables	Mean (%)	Std. deviation	Lower CI	Upper CI
ASC	7.56	1.90	7.37	7.75
Transparency	0.79	0.34	0.76	0.83
Strike level
− 40%	− 0.41	0.09	− 0.42	− 0.40
± 20%	0.16	0.03	0.16	0.17
± 40%	0.18	0.03	0.18	0.19
Large group contract	− 0.31	0.66	− 0.38	− 0.24
Small group contract	0.23	0.46	0.19	0.28
Distance (50 km)	− 0.24	0.20	− 0.26	− 0.22

Confidence intervals (CI) refer to the 95% level. Willingness to pay (WTP) was calculated by dividing individual-specific coefficients for attribute level by the median of the premium rate coefficient. For the ASC, the coefficient was multiplied by − 1 to obtain the WTP for insurance in general. WTP is only shown for attribute levels with significant coefficient estimates in model (1) of Table 5

ISSN: 2048-7010