Crop Revenue and Yield Insurance Demand: A Subjective Probability Approach

A multinomial logit is utilized to model the choice of whether to purchase yield or revenue insurance using subjectively elicited survey data. Our results indicate that the demand for crop insurance is inelastic (-0.40), consistent with most earlier yield elasticity estimates, but the elasticity for choices between yield and revenue insurance is found to be relatively more elastic (-0.88).


Issue Date:
2008-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/47256
Published in:
Journal of Agricultural and Applied Economics, Volume 40, Number 3
Page range:
757-766
Total Pages:
10
JEL Codes:
Q18




 Record created 2017-04-01, last modified 2017-08-25

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