Developing area-triggered whole-farm revenue insurance

Lekhnath Chalise; Keith H. Coble; Barry J. Barnett; J. Corey Miller

Developing area-triggered whole-farm revenue insurance

Lekhnath Chalise
, Keith H. Coble
, Barry J. Barnett
, J. Corey Miller

Agricultural Economics

Producción científica: Article › revisión exhaustiva

14 Citas (Scopus)

Resumen

Whole-farm revenue insurance is frequently suggested as a conceptually attractive alternative to commodity-specific insurance, but attempts to deliver farm-level whole-farm revenue insurance (FWFI) have been fraught with underwriting and actuarial challenges. This study develops customizable area-based whole-farm insurance (CAWFI) that overcomes some known impediments to existing designs. Certainty equivalents are generated for representative farms in Kansas, North Dakota, Illinois, and Mississippi. We find that a restricted CAWFI design generates significant risk reduction at much lower cost than FWFI.

Idioma original	English
Páginas (desde-hasta)	27-44
Número de páginas	18
Publicación	Journal of Agricultural and Resource Economics
Volumen	42
N.º	1
Estado	Published - ene 2017

Nota bibliográfica

Publisher Copyright:
Copyright 2017 Western Agricultural Economics Association.

Financiación

Lekhnath Chalise is an agricultural economist at the U.S. Department of Agriculture, Economic Research Services. Keith H. Coble is a Giles Distinguished Professor and Barry J. Barnett is a professor in the Agricultural Economics Department at Mississippi State University. J. Corey Miller Miller is an economic analyst at the University Research Center at Mississippi Institutions of Higher Learning. This research was supported by the Mississippi Agricultural Experiment Station. We also acknowledge support from the National Institute of Food and Agriculture, U.S. Department of Agriculture, under Hatch project 603150. The views expressed here are not necessarily those of Economic Research Services or U.S. Department of Agriculture Review coordinated by David K. Lambert.

Financiadores	Número del financiador
Mississippi Agricultural and Forestry Experiment Station, Mississippi State University
U.S. Department of Agriculture	603150
National Institute of Food and Agriculture

ASJC Scopus subject areas

Animal Science and Zoology
Agronomy and Crop Science
Economics and Econometrics

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AU - Coble, Keith H.

AU - Barnett, Barry J.

AU - Corey Miller, J.

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KW - Farm policy

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KW - Risk

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Developing area-triggered whole-farm revenue insurance

Resumen

Nota bibliográfica

Financiación

ASJC Scopus subject areas

Otros archivos y enlaces

Huella

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