Techniques for Multivariate Simulation from Mixed Marginal Distributions with Application to Whole-Farm Revenue Simulation

Techniques for Multivariate Simulation from Mixed Marginal Distributions with Application to Whole-Farm Revenue Simulation

Alternative techniques for representing dependencies among variables in multivariate simulation are discussed and compared in the context of rating a whole-farm insurance product. A procedure by lman and Conover (IC) that is common in actuarial applications is compared to a new technique detailed by...

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Bibliographic Details
Main Authors: John D. Anderson, Ardian Harri, Keith H. Coble
Format: Article
Language:English
Published: Western Agricultural Economics Association 2009-04-01
Series:Journal of Agricultural and Resource Economics
Subjects:
correlation
crop insurance
multivariate simulation
whole-farm revenue
Online Access:https://ageconsearch.umn.edu/record/50076

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