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Title: Agricultural Insurance as an Environmental Policy Tool
Authors: Coble, Keith H.
Hanson, Terrill R.
Miller, J. Corey
Shaik, Saleem
Keywords: environment
JEL Codes: D81
Issue Date: 2003-08
Abstract: This paper examines the possibility that insurance for row crops, livestock, and aquaculture can be used effectively to encourage producers to adopt practices that will improve environmental behavior. Examples of agricultural environmental insurance are provided and considered in the context of alternative policy mechanisms. The current state of agricultural insurance and the nonagricultural environmental insurance market are explored. We also lay out the characteristics of an insurable risk along with the theoretical basis of insurance provision. An empirical example of an environmental insurance design is provided, and the behavioral implications of such a design are examined. Finally, we discuss important considerations that should be evaluated when considering an attempt to implement an agricultural insurance program directed at environmental behavior.
Institution/Association: Journal of Agricultural and Applied Economics>Volume 35, Number 02, August 2003
Total Pages: 15
From Page: 391
To Page: 405
Collections: Volume 35, Number 02, August 2003

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