An Estimated Analysis of Willingness to Wait Time to Pay Rice Agricultural Insurance Premiums Using Cox’s Proportional Hazards Model

In this paper, we determined the factors that affect the waiting time of rice farmers’ willingness to pay the premium for the Rice Farming Insurance Program (RFIP) using survival analysis. The survival analysis method was carried out using the Cox proportional hazard model with the Efron approach. T...

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Bibliographic Details
Main Authors: Yuyun Hidayat, Sukono, Betty Subartini, Nida Khairunnisa, Aceng Sambas, Titi Purwandari
Format: Article
Language:English
Published: MDPI AG 2022-10-01
Series:Mathematics
Subjects:
Online Access:https://www.mdpi.com/2227-7390/10/21/3935
Description
Summary:In this paper, we determined the factors that affect the waiting time of rice farmers’ willingness to pay the premium for the Rice Farming Insurance Program (RFIP) using survival analysis. The survival analysis method was carried out using the Cox proportional hazard model with the Efron approach. The case study in this research is rice farmers in Cibungur Village, Parungponteng District, Tasikmalaya Regency. The results of the analysis show that the predictor variables that are significant to the waiting time of rice farmers’ willingness to pay the insurance premium for RFIP are their last education, other occupations, rice production, and farming costs. The results of the research are expected to produce additional information for the government and implementers of rice farming insurance regarding the condition of farmers in the field, so that it can be improved in the future.
ISSN:2227-7390