A Probabilistic Model of Crop Insurance Purchase Decision

A Probabilistic Model of Crop Insurance Purchase Decision

This study proposes a probabilistic model of the individual crop insurance purchase decision that explicitly recognizes that neither the producer nor the insurer knows the exact value of the actuarially fair premium (AFP) underlying the desired policy. The model is used to explore the impact of key...

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Bibliographic Details
Main Authors: Octavio A. Ramirez, J. Scott Shonkwiler
Format: Article
Language:English
Published: Western Agricultural Economics Association 2017-01-01
Series:Journal of Agricultural and Resource Economics
Subjects:
agricultural risk
comparative statics
crop insurance program performance
estimation of crop insurance premiums
insurance decision under uncertainty
Online Access:https://ageconsearch.umn.edu/record/252751

Internet

https://ageconsearch.umn.edu/record/252751

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