The trade-off between liquidity and insurance: voucher payments in a lab-in-the-field experiment with Colombian rural workers
| dc.audience | Researchers | eng |
| dc.audience | Students | eng |
| dc.audience | Teachers | eng |
| dc.contributor.institucion | Universidad del Rosario | es |
| dc.coverage.ciudad | Bogotá | es |
| dc.creator | Cano, Alexander | |
| dc.creator | Cortés, Darwin | |
| dc.creator | Mantilla, César | |
| dc.creator | Prada, Laura | |
| dc.creator | Restrepo, Medardo | |
| dc.date.accessioned | 2022-03-10T12:53:16Z | |
| dc.date.available | 2022-03-10T12:53:16Z | |
| dc.date.created | 2022-03-10 | |
| dc.description.abstract | We conduct a lab-in-the-field experiment in which 214 rural workers must choose between a cash or a voucher payment for completing a real-effort task. Participants face a twenty-percent chance of suffering a negative shock that will reduce their cash payment by roughly two-thirds. Opting for the voucher reduces the likelihood of the shock by one-half. We employ a multiple-price list with a varying voucher payment and a fixed cash payment to study this trade-off relevant for expanding the coverage and contributions of rural labor formalization. Voucher take-up rates go from 32% to 56%, from the least to the more generous voucher. In a sample of undergrad students from the same region, take-up rates went from 17% to 33%. We find that voucher redemption costs explain take-up among students but not among rural workers. Being a rural worker with land, and receiving government subsidies in cash, predict a higher voucher take-up. | eng |
| dc.format.extent | 30 páginas | |
| dc.format.mimetype | ||
| dc.identifier.uri | https://repositorio.redinvestigadores.org/handle/Riec/109 | |
| dc.language.iso | eng | |
| dc.relation.ispartof | Documentos de Trabajo | spa |
| dc.relation.number | No. 88 | |
| dc.relation.repec | https://ideas.repec.org/p/rie/riecdt/88.html | |
| dc.rights.accessRights | Open Access | eng |
| dc.rights.cc | Atribucion-NoComercial-CompartirIgual CC BY-NC-SA 4.0 | |
| dc.rights.spa | Acceso abierto | |
| dc.rights.uri | https://creativecommons.org/licenses/by-nc-sa/4.0/ | eng |
| dc.subject.jel | C91 - Laboratory, Individual Behavior | es |
| dc.subject.jel | O17 - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements | es |
| dc.subject.jel | R51 - Finance in Urban and Rural Economies | es |
| dc.subject.keyword | agriculture | eng |
| dc.subject.keyword | dual labor market | eng |
| dc.subject.keyword | informal labor market | eng |
| dc.subject.lemb | Mano de obra -- Trabajo informal -- Trabajo rural -- Colombia | spa |
| dc.subject.tema | Informalidad | es |
| dc.title | The trade-off between liquidity and insurance: voucher payments in a lab-in-the-field experiment with Colombian rural workers | es |
| dc.type | Working paper | eng |
| dc.type.hasversion | Published Version | |
| dc.type.spa | Documentos de Trabajo | spa |
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