IMPLICATIONS AND EVALUATION OF CROP INSURANCE CHOICES FOR COTTON FARMERS UNDER THE 2014 FARM BILL
| Autor: | Kishor P. Luitel, Darren Hudson, Thomas O. Knight |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
Crop insurance
Economics and Econometrics business.industry Yield (finance) 05 social sciences Subsidy Agricultural and Biological Sciences (miscellaneous) Agricultural science Agriculture Insurance policy 0502 economics and business Revenue 050202 agricultural economics & policy Business 050207 economics Income protection insurance Risk management |
| Zdroj: | Journal of Agricultural and Applied Economics. 50:526-543 |
| ISSN: | 2056-7405 1074-0708 |
| Popis: | The Agricultural Act of 2014 introduced new crop insurance policies to manage agricultural risk, especially to cotton farmers. A representative farm panel was used to elicit the yield distribution of the farm, county, and correlation. Results suggest that the optimal underlying insurance policy is Revenue Protection at a 75% coverage level for both high- and low-productivity farms even with a Yield Exclusion provision. The Stacked Income Protection Plan benefit is mostly attributable to a higher insurance premium subsidy. For any crop, efficient agricultural risk management can be achieved through understanding the guaranteed yield and its relation to the farm and county yield. |
| Databáze: | OpenAIRE |
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