000206598 001__ 206598
000206598 005__ 20210122074838.0
000206598 0247_ $$2doi$$a10.22004/ag.econ.206598
000206598 037__ $$a1835-2016-149533
000206598 037__ $$a1835-2016-149949
000206598 041__ $$aeng
000206598 245__ $$aAccounting for Weather Probabilities in Crop Insurance Rating
000206598 260__ $$c2015-05
000206598 269__ $$a2015-05
000206598 300__ $$a19
000206598 336__ $$aJournal Article
000206598 520__ $$aThis article develops a procedure for weighting historical loss cost experience based on longer
time-series weather information. Using a fractional logit model and out-of-sample competitions,
weather variables are selected to construct an index that allows proper assessment of the relative
probability  of  weather  events  that  drive  production  losses  and  to  construct  proper  “weather
weights” that are used in averaging historical loss cost data. A variable-width binning approach
with equal probabilities is determined as the best approach for classifying each year in the shorter
historical loss cost data used for rating. When the weather-weighting approach described above
is applied, we find that the weather-weighted average loss costs at the national level are different
from the average loss costs without weather weighting for all crops examined.
000206598 650__ $$aCrop Production/Industries
000206598 6531_ $$aCrop insurance
000206598 6531_ $$apremium rating
000206598 6531_ $$aweather weighting
000206598 700__ $$aRejesus, Roderick M.
000206598 700__ $$aCoble, Keith H.
000206598 700__ $$aMiller, Mary France
000206598 700__ $$aBoyles, Ryan
000206598 700__ $$aGoodwin, Barry K
000206598 700__ $$aKnight, Thomas O.
000206598 773__ $$q306$$o324$$tJournal of Agricultural and Resource Economics$$j40$$k2$$dMay 2015
000206598 8564_ $$92392e8cd-dfa4-4a18-9aa7-0f6d659e0892$$s4056944$$uhttps://ageconsearch.umn.edu/record/206598/files/JAREMay20157Rejesuspp306-324.pdf
000206598 887__ $$ahttp://purl.umn.edu/206598
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000206598 912__ $$nSubmitted by Taisiia Stanishevska (stani097@umn.edu) on 2015-07-02T15:10:47Z
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  Previous issue date: 2015-05
000206598 913__ $$aLicense granted by Taisiia Stanishevska (stani097@umn.edu) on 2015-07-02T15:04:05Z (GMT):

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000206598 980__ $$a1835
000206598 982__ $$gJournal of Agricultural and Resource Economics>Volume 40, Number 2, May 2015