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| Registros recuperados: 1,657 | |
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| Rawlins, Richard B.; Bernardo, Daniel J.. |
| A risk programming model was developed to evaluate the tradeoffs between risk and expected returns in beef-forage production systems. The specification represents nutrient and intake considerations when allocating forage among cattle enterprises; it also incorporates the various sources of risk facing livestock producers. Efficient ranch organizations were derived for a representative eastern Oklahoma ranch using MOTAD and Target-MOTAD formulations. Diversification of forage enterprises, introduction of cow-calf enterprises, and retained ownership of weaned calves were identified as important responses to reductions in acceptable levels of risk. Results also indicated efficient ranch plans to be sensitive to the risk criteria and producer's willingness... |
| Tipo: Journal Article |
Palavras-chave: Livestock Production/Industries; Risk and Uncertainty. |
| Ano: 1991 |
URL: http://purl.umn.edu/30308 |
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| Anderson, Kim B.; Ikerd, John E.. |
| The Risk-Rating Model is designed to give extension specialists, teachers, and producers a method to analyze production, marketing, and financial risks. These risks may be analyzed either individually or simultaneously. The risk associated with each enterprise, for all combinations of enterprises, and for any combination of marketing strategies is estimated. Optimistic, expected, and pessimistic returns above variable cost and/or total cost are presented in the results. The probability that total return will be equal to or greater than variable cost and/or total cost is also estimated. |
| Tipo: Journal Article |
Palavras-chave: Farm Management; Risk and Uncertainty. |
| Ano: 1985 |
URL: http://purl.umn.edu/29372 |
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| Makki, Shiva S.; Somwaru, Agapi. |
| In recent years, the crop insurance program has emerged as an important part of the U.S. farm policy. Farmers responded to the crop insurance program with increased participation nationwide. At issue is whether the rapid expansion of the program has worsened the asymmetric information problems in crop insurance markets. This paper investigates the presence of adverse selection in cotton insurance markets. Our results reject the conditional independence of the choice of insurance contracts and risk of loss, implying the presence of informational asymmetries between the insurer and insured in Texas cotton insurance markets. Results show that actual premium rates are significantly different from both pure and fair premium rates. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2002 |
URL: http://purl.umn.edu/19827 |
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| Lence, Sergio H.. |
| The present study sets up a thought experiment calibrated to represent risks of a high-risk production activity (farming), and investigating whether the structure of risk aversion (i.e., the changes in absolute or relative risk aversion associated with changes in wealth) can be estimated with reasonable precision. Findings strongly suggest that typical production data are unlikely to allow identification of the structure of risk aversion. A flexible utility parameterization is found to worsen technology parameter estimates. Findings also indicate that even under a restricted utility specification, the quality of utility parameters estimated from small samples is very poor. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Expected utility; Risk preferences; Production analysis; Risk attitudes.; Risk and Uncertainty; C13; D24; D81; Q12.. |
| Ano: 2007 |
URL: http://purl.umn.edu/9980 |
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| Zering, Kelly D.; McCorkle, C.O., Jr.; Moore, Charles V.. |
| The usefulness of FCIC multiple peril crop insurance on diversified, irrigated, high yielding farms in the Imperial Valley is examined. Production data and expected price and yield distributions were collected from thirty-two farm managers in 1982. Individual whole-farm net income distributions then were used to elicit their risk preferences. Participation in FCIC crop insurance for cotton, wheat, and sugar beets under the existing program and under several alternatives was predicted. Predicted participation never exceeds 25% of eligible growers. Low maximum yield guarantees and premiums inconsistent with individual yield experience are identified as factors limiting participation. |
| Tipo: Journal Article |
Palavras-chave: Crop Production/Industries; Risk and Uncertainty. |
| Ano: 1987 |
URL: http://purl.umn.edu/32470 |
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| Carpentier, Alain; Gohin, Alexandre; Heinzel, Christoph. |
| For the 2014-2020 phase of the Common Agricultural Policy, the European Commission has the opportunity to reduce the leakage of public support to landowners and to better target it towards active farmers. Our purpose is to assess whether shifting the basis of direct payments from land towards active farmers will significantly alter agricultural production decisions. In a dynamic and stochastic microeconomic framework, we identify the impact of this shift on the farm household’s production and consumption decisions. In the dynamic setting the production impacts of direct payments are much higher than previously quantified, because the “long run” absolute risk aversion (associated with the value function) is lower than the “short run” one (associated with... |
| Tipo: Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2012 |
URL: http://purl.umn.edu/122447 |
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| Xu, Wei; Filler, Gunther; Odening, Martin; Okhrin, Ostap. |
| Systemic weather risk is a major obstacle for the formation of private (nonsubsidized) crop insurance. This paper explores the possibility of spatial diversification of insurance by estimating the joint occurrence of unfavorable weather conditions in different locations. For that purpose copula methods are employed that allow an adequate description of stochastic dependencies between multivariate random variables. The estimation procedure is applied to weather data in Germany. Our results indicate that indemnity payments based on temperature as well as on cumulative rainfall show strong stochastic dependence even at a national scale. Thus the possibility to reduce risk exposure by increasing the trading area of the insurance is limited. Irrespective of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Weather risk; Crop insurance; Copula; Risk and Uncertainty; C14; Q19. |
| Ano: 2009 |
URL: http://purl.umn.edu/49131 |
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| Wocken, Meike; Kneib, Thomas. |
| This study examines the effect of European intervention politics in the European butter market in the context of market liberalization using the example of Germany. A heteroscedastic Tobit model is estimated using German butter market data from 1973-2010. There is evidence that price support has reduced price instability in the butter market. Simulation indicates that enhancing intervention price causes an increase in the expected butter price in the long-run, even though if market price is higher than intervention level. We find changing effects of stockpiling. If difference between market and intervention price is small and stock quantity is high, it significantly contributes to reducing price volatility. On the contrary if price difference is large and... |
| Tipo: Presentation |
Palavras-chave: Censored regression; Market liberalization; Butter market; Agricultural and Food Policy; Risk and Uncertainty; C5; D4; Q11.. |
| Ano: 2012 |
URL: http://purl.umn.edu/122528 |
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| Myers, Robert J.; Liu, Yanyan; Hanson, Steven D.. |
| We argue that existing agricultural insurance valuation models are limited either because they are not complete equilibrium models that price the non-diversifiable risk involved in issuing insurance contracts, or they assume complete markets which appears at odds with most applications of agricultural insurance. We also propose two new incomplete market models and derive an insurance valuation formula for each under the assumption of constant relative risk aversion preferences and lognormally distributed random variables. The two models differ in the way they treat trade in insurance contracts, with one model allowing insurers and insureds to trade freely on a liquid secondary market, while the other requires insurance firms to act as brokers between... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2005 |
URL: http://purl.umn.edu/19561 |
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| Registros recuperados: 1,657 | |
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