@article{Lyu:212199,
      recid = {212199},
      author = {Lyu, Kaiyu and Barre, Thomas},
      title = {Crop Insurance Program Purchase Decision and Role of Risk  Aversion: Evidence from Maize Production Areas in China},
      address = {2015},
      number = {1008-2016-79981},
      pages = {37},
      year = {2015},
      abstract = {Risk aversion is a key determinate in risk management in  the agricultural insurance market. Based on the unique  datasets of risk preference experiment and maize producer  survey in maize production areas in China, this paper  explores the determinants of farmers’ CIP participation and  scrutinizes the role of risk aversion in farmers’ CIP  decision. Results show that risk aversion plays an  important role in CIP decision, not only in the form of  its’ direct effect, but also in the form of interaction  term together with loss expected. We also find the purchase  experience, CIP environment (village purchase ratio) and  contract items (insured amount) are significant  determinates in the CIP purchase decision. No significant  evidence is found that serious adverse selection exists in  the sampling areas.},
      url = {http://ageconsearch.umn.edu/record/212199},
      doi = {https://doi.org/10.22004/ag.econ.212199},
}