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Journal of Agricultural and Resource Economics >
Volume 19, Number 02, December 1994 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/30747
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| Title: | PREMIUM RATE DETERMINATION IN THE FEDERAL CROP INSURANCE PROGRAM: WHAT DO AVERAGES HAVE TO SAY ABOUT RISK? |
| Authors: | Goodwin, Barry K. |
| Issue Date: | 1994-12 |
| Abstract: | This article reviews actuarial procedures used to calculate premium rates in the federal crop insurance program. Average yields are used as an important indicator of risk under current rating practices. The strength and validity of this relationship is examined using historical yield data drawn from a large sample of Kansas farms. The results indicate that assumed relationships between average yields and yield variation are tenuous and imply that rating procedures that rely on average yields may induce adverse selection. |
| URI: | http://purl.umn.edu/30747 |
| Institution/Association: | Journal of Agricultural and Resource Economics>Volume 19, Number 02, December 1994 |
| Total Pages: | 14 |
| Language: | English |
| From Page: | 382 |
| To Page: | 395 |
| Collections: | Volume 19, Number 02, December 1994
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| 19020382.pdf | 947Kb | PDF | View/Open |
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