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- Title
Is There a Viable Market for Area-Based Crop Insurance?
- Authors
Deng, Xiaohui; Barnett, Barry J.; Vedenov, Dmitry V.
- Abstract
The performance of area yield insurance and farm-level multiple peril crop insurance is analyzed for cotton and soybean production in Georgia and South Carolina. The analysis improves on many previous studies by utilizing actual farm-level yield data and by comparing the two types of insurance products not only for actuarially fair premium rates but also for actual unsubsidized and subsidized premium rates. Results suggest that, even in heterogeneous production regions, area yield insurance may be a viable alternative to farm-level insurance when premium rates for farm-level insurance contain large positive wedges.
- Subjects
GEORGIA; SOUTH Carolina; CROP insurance; SOYBEAN industry; COTTON; RISK management in business; PROPERTY insurance; AGRICULTURAL economics
- Publication
American Journal of Agricultural Economics, 2007, Vol 89, Issue 2, p508
- ISSN
0002-9092
- Publication type
Article
- DOI
10.1111/j.1467-8276.2007.00975.x