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| Registros recuperados: 1,657 | |
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| Kim, Kwansoo; Chavas, Jean-Paul. |
| The paper investigates the linkages between technological change and production risk, with an application to corn. The effects of technology on risk exposure are characterized based on the properties of the risk premium. We define technological progress to be risk-increasing (risk-decreasing) if it increases (decreases) the relative risk premium. The analysis is applied to panel data from Wisconsin research stations. Conditional moments (including mean, variance and skewness) of corn yield, grain moisture and corn profit are estimated for different sites. We investigate how the trade-off between expected return and the risk premium varies over time and over space. The empirical results indicate that technological progress contributes to reducing the... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Research and Development/Tech Change/Emerging Technologies; Risk and Uncertainty. |
| Ano: 2001 |
URL: http://purl.umn.edu/20605 |
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| Me-Nsope, Nathalie Mongue. |
| The study investigates the economic response of tart cherry yields to planting density using an unbalanced longitudinal yield data from tart cherry orchards in Northwest Michigan. The relationship between tart cherry yield and tree age is specified as a linear spline function and planting density interacts with tree age. A random effect method, treating block as random, is used to estimate the spline function. Stochastic simulation was used to estimate the mean and variance of the product of two random variables (price and yield), and the coefficient of variation was used as a measure of how much risk is involved in corn/soybeans production relative to tart cherries production. Estimates of the variance provided the discount factor (10%) and with yields... |
| Tipo: Thesis or Dissertation |
Palavras-chave: Tart cherries; Pricing; Planting density; Crop Production/Industries; Risk and Uncertainty; D4; D24; L11. |
| Ano: 2009 |
URL: http://purl.umn.edu/54502 |
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| Pennings, Joost M.E.; Garcia, Philip. |
| The validity of the utility concept, particularly in an expected utility framework, has been questioned because of its inability to predict revealed behavior. In this paper we focus on the global shape of the utility function instead of the local shape of the utility function. We examine the extent of heterogeneity in the global shape of the utility function of decision makers and test whether its shape predicts strategic risk management behavior. We assess the utility functions and relate them to strategic decisions for portfolio managers (N = 104) and hog farmers (N = 239). The research design allows us to examine the robustness of our results and the extent to which the results can be generalized. Furthermore, we assess the shape of the utility... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Risk and Uncertainty. |
| Ano: 2004 |
URL: http://purl.umn.edu/20388 |
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| Epperson, James E.. |
| A catastrophe (CAT) bond is designed for peanut production as a means of transferring natural disaster risks from insurance purveyors to the global capital market. The CAT bond so designed is priced using state-level historical yields for peanut production in the southern part of the United States in the State of Georgia. The index triggering the CAT bond contract was based on percent deviation from state average yield. The principal finding of the study is that it appears feasible for crop insurance purveyors to issue insurance-linked securities. CAT bonds can reduce the variance of the loss ratio when issued optimally with regard to the number of bonds and contract specifications. CAT bonds could therefore be used in hedging catastrophic risk effectively... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Insurance; Reinsurance; Pricing; Hedging; Agricultural Finance; Crop Production/Industries; Risk and Uncertainty. |
| Ano: 2008 |
URL: http://purl.umn.edu/44512 |
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| McCarl, Bruce A.. |
| Model validation is a topic which has a long history in the literature This article attempts to focus much of the previous discussion upon agricultural economics models. True model validation is not possible. Nevertheless, model validation exercises improve the relevancy of models and strengthen the theoretical oasis for modelling. Procedures are given for conducting validation exercises and for dealing with models which fail such exercises. In addition. comments appear on considerations involved with the validation of risk models. |
| Tipo: Journal Article |
Palavras-chave: Risk and Uncertainty. |
| Ano: 1984 |
URL: http://purl.umn.edu/12282 |
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| Registros recuperados: 1,657 | |
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