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Please use this identifier to cite or link to this item: http://purl.umn.edu/62288

Title: Preferences for Livestock Revenue Insurance Among Beef Producers
Authors: Fields, Deacue
Gillespie, Jeffrey M.
Keywords: Personal interviews were conducted with 52 Louisiana cow-calf producers to determine their preferences for a livestock revenue insurance (LRI) product. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. Two-limit tobit models were estimated. Producers were segmented using cluster analysis based upon preferences for LRI product attributes. A multinomial logit model was used to determine differences between characteristics of producers in each cluster. Producers generally preferred higher-premium
zero-deductible products
180-day policy length
the state price series
and an in-person method of marketing. Cluster analysis yielded three groups of preferences
Issue Date: 2007
Abstract: Personal interviews were conducted with 52 Louisiana cow-calf producers to determine their preferences for a livestock revenue insurance (LRI) product. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. Two-limit tobit models were estimated. Producers were segmented using cluster analysis based upon preferences for LRI product attributes. A multinomial logit model was used to determine differences between characteristics of producers in each cluster. Producers generally preferred higher-premium, zero-deductible products; 180-day policy length; the state price series; and an in-person method of marketing. Cluster analysis yielded three groups of preferences
URI: http://purl.umn.edu/62288
Identifiers: 0738-8950
Institution/Association: Journal of Agribusiness>Volume 25, Number 1, Spring 2007
Total Pages: 13
From Page: 93
To Page: 105
Collections:Volume 25, Number 1, Spring 2007

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