Managing Catastrophic Risk in Agriculture through Ex Ante Subsidized Insurance or Ex Post Disaster Aid
We consider a political economy in which government cares about risk-averse farmers' loss of income but incurs political cost if it provides monetary support to farmers. Farmers' expectations of government disaster aid and overconfidence (optimism bias) regarding their risk prevent farmers...
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| Format: | Article |
| Language: | English |
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Western Agricultural Economics Association
2017-09-01
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| Series: | Journal of Agricultural and Resource Economics |
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| Online Access: | https://ageconsearch.umn.edu/record/264070 |