Index-based pasture insurance
Data were collected between May and July 2021. It covered 110 subsistence farmers, a relatively small sample size due to the South African government lockdown regulations due to the global Covid19 pandemic. Data included loss and risk aversion attitude, demographics, perception of drought management by farmers and choice experiment for index-based insurance. After successfully capturing and cleaning the data, R-statistical software was used to analyse data, specifically, the Apollo packages, a tool for choice model estimation and application.