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Agricultural and Resource Economics Review >
Volume 23, Number 1, April 1994 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/31315
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| Title: | ALMOST IDEAL AREA YIELD CROP INSURANCE CONTRACTS |
| Authors: | Smith, Vincent H.
Chouinard, Hayley H.
Baquet, Alan E. |
| Issue Date: | 1994-04 |
| Abstract: | Using yield data for a sample of 123 dryland wheat producers in Montana, the effects of three area yield contracts, including the contract currently offered by the United States Federal Crop Insurance Corporation and two individual yield contracts on individual farm yield variability, are examined. The results indicate that while the Federal Crop Insurance Corporation area yield contract provides all farmers in the sample with some protection against yield variability, a simpler, actuarially equivalent "almost ideal" area yield contract provides substantially larger reductions in yield variability. However, actuarially equivalent individual yield contracts provide levels of protection against yield variability similar to those obtained under the "almost ideal" area yield contract at much lower premiums. |
| URI: | http://purl.umn.edu/31315 |
| Institution/Association: | Agricultural and Resource Economics Review>Volume 23, Number 1, April 1994 |
| Total Pages: | 9 |
| Language: | English |
| Journal Issue : | Agricultural and Resource Economics Review |
| Journal Volume: | 23 |
| Journal Date: | April 1994 |
| From Page: | 75 |
| To Page: | 83 |
| Collections: | Volume 23, Number 1, April 1994
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| 23010075.pdf | 898Kb | PDF | View/Open |
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