000262194 001__ 262194
000262194 005__ 20170823113118.0
000262194 037__ $$a1477-2017-3960
000262194 041__ $$aeng
000262194 245__ $$aHow Do Time and Money Affect Agricultural Insurance Uptake? A New Approach to Farm Risk Management Analysis
000262194 260__ $$c2016
000262194 269__ $$a2016-08-01
000262194 300__ $$a40
000262194 336__ $$aReport
000262194 490__ $$aEconomic Research Report Number 212
000262194 520__ $$aGrowth in the Federal crop insurance program, as well as in the use of crop insurance in de- veloping countries, highlights the policy importance of insurance as a risk-management tool  for farmers. This report presents a new approach to the analysis of demand for crop insur- ance, which can better explain observed insurance coverage decisions among U.S. farmers and  inform future discussion about crop insurance provisions in the Farm Bill. The findings indi- cate that when farmers have access to other financial mechanisms—primarily savings—their  insurance decisions change. In addition, when researchers consider the element of time—for  example, a farmer’s consideration of many crop seasons when making production and risk  management decisions—predictions about farm-level demand for crop insurance will also  change. Specifically, the authors find that, with savings, relatively wealthier farmers appear to  spend less on insurance and self-insure through savings, while limited-resource farmers with  low farm income use savings to increase insurance coverage. The more time a farmer factors  into the decisionmaking process when comparing insurance versus savings for risk manage- ment, the less important insurance becomes. ---- Errata On August 11,  2016, a correction  was made to the  first sentence  of the second  paragraph of page  1. The original  report stated the  Federal Crop  Insurance Reform  Act (FCIRA) was  passed in 1995,  when, in fact, the  Act was passed in  1994. While the  changes to farm  insurance as a  result of FCIRA  took effect in 1995,  FCIRA became  law in 1994.
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000262194 546__ $$aEnglish
000262194 650__ $$aAgricultural and Food Policy
000262194 650__ $$aFarm Management
000262194 650__ $$aResearch Methods/ Statistical Methods
000262194 650__ $$aRisk and Uncertainty
000262194 6531_ $$aagricultural risk management
000262194 6531_ $$acrop insurance
000262194 6531_ $$aFederal Crop Insurance
000262194 6531_ $$asavings
000262194 700__ $$aFarrin, Katie 
000262194 700__ $$aMiranda, Mario J.
000262194 700__ $$aO'Donoghue, Erik 
000262194 8560_ $$fsnyde350@umn.edu
000262194 8564_ $$s1326298$$uhttp://ageconsearch.umn.edu/record/262194/files/60086_err212_errata.pdf
000262194 8564_ $$s1773010$$uhttp://ageconsearch.umn.edu/record/262194/files/60086_err212_errata.pdf?subformat=pdfa$$xpdfa
000262194 909CO $$ooai:ageconsearch.umn.edu:262194$$qGLOBAL_SET
000262194 980__ $$a1477