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Lecture 8: Risk-Sharing Application episode artwork

Oct 30, 2026 1 hr 4 min

Lecture 8: Risk-Sharing Application

from MIT OpenCourseWare: Free Courses from the institute Hosted by MIT OpenCourseWare

MIT 14.04 Intermediate Microeconomic Theory, Fall 2020Instructor: Prof. Robert TownsendUploaded 31-08-22View the complete course: https://ocw.mit.edu/courses/14-04-intermediate-microeconomic-theory-fall-2020/YouTube Playlist: https://www.youtube.com/watch?v=XSTSfCs74bg&list=PLUl4u3cNGP63wnrKge9vllow3Y2OOOKqFVillage India is home to extreme poverty and enormous risks, including those that can affect one household but not others due to specialization in income sources, crops, and soil. Yet households in village India come close to an optimal allocation of risk bearing, achieved apparently through ex post borrowing/lending and gifts/transfers. In the medieval village, a primary mechanism was ex ante division of land, though portfolio diversification was imperfect.License: Creative Commons BY-NC-SAMore information at https://ocw.mit.edu/termsMore courses at https://ocw.mit.eduSupport OCW at http://ow.ly/a1If50zVRlQWe encourage constructive comments and discussion on OCW’s YouTube and other social media channels. Personal attacks, hate speech, trolling, and inappropriate comments are not allowed and may be removed. More details at https://ocw.mit.edu/comments.

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