TY - JOUR
T1 - Hedging dairy production losses using weather-based index insurance
AU - Deng, Xiaohui
AU - Barnett, Barry J.
AU - Vedenov, Dmitry V.
AU - West, Joe W.
PY - 2007/3
Y1 - 2007/3
N2 - This article proposes a temperature-humidity index insurance product and examines whether this product can effectively protect against the risk of reduced milk production caused by heat stress. Results suggest that even when premiums are at higher than actuarially fair levels and the insurance purchaser is faced with both spatial and temporal basis risks, a temperature-humidity index insurance product would provide risk management benefits to a representative south-central Georgia dairy producer.
AB - This article proposes a temperature-humidity index insurance product and examines whether this product can effectively protect against the risk of reduced milk production caused by heat stress. Results suggest that even when premiums are at higher than actuarially fair levels and the insurance purchaser is faced with both spatial and temporal basis risks, a temperature-humidity index insurance product would provide risk management benefits to a representative south-central Georgia dairy producer.
KW - Dairy production risk
KW - Index insurance
KW - Temperature-humidity index
UR - http://www.scopus.com/inward/record.url?scp=33847009132&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=33847009132&partnerID=8YFLogxK
U2 - 10.1111/j.1574-0862.2007.00204.x
DO - 10.1111/j.1574-0862.2007.00204.x
M3 - Article
AN - SCOPUS:33847009132
SN - 0169-5150
VL - 36
SP - 271
EP - 280
JO - Agricultural Economics (United Kingdom)
JF - Agricultural Economics (United Kingdom)
IS - 2
ER -