About the Feed the Future Innovation Lab for Markets, Risk & Resilience
The Feed the Future Innovation Lab for Markets, Risk & Resilience (MRR) at UC Davis develops and tests financial and market innovations that take the most promising agricultural tools for families in developing economies from the lab to the field. Visit our website for frequent updates on proven approaches to promoting sustainable development and resilience. Learn more
Accounting for the Full Cost of Shocks with an Economic Measure of Resilience
In many parts of the world, increasingly erratic weather is threatening the lives and livelihoods of families who rely on agriculture. While no one can control mother nature, development programs are focused more than ever on the idea of building people’s resilience to losing crops, livestock and even their means to earn a living.
But when it comes to measuring resilience, what exactly do we mean?
“Intuitively, resilience is the ability to maintain one’s livelihood with minimal compromise compared to what it would have been without a shock,” said Michael Carter, director of the MRR Innovation Lab at UC Davis. “That’s a common-sense definition but how do we measure that?” Read more