Abstract
The performance of area yield insurance and farm-level multiple peril crop insurance is analyzed for cotton and soybean production in Georgia and South Carolina. The analysis improves on many previous studies by utilizing actual farm-level yield data and by comparing the two types of insurance products not only for actuarially fair premium rates but also for actual unsubsidized and subsidized premium rates. Results suggest that, even in heterogeneous production regions, area yield insurance may be a viable alternative to farm-level insurance when premium rates for farm-level insurance contain large positive wedges.
| Original language | English |
|---|---|
| Pages (from-to) | 508-519 |
| Number of pages | 12 |
| Journal | American Journal of Agricultural Economics |
| Volume | 89 |
| Issue number | 2 |
| DOIs | |
| State | Published - May 2007 |
Keywords
- Area yield insurance
- Crop insurance
- Group Risk Plan
- Risk management
ASJC Scopus subject areas
- Agricultural and Biological Sciences (miscellaneous)
- Economics and Econometrics