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Registros recuperados: 114 | |
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Woodard, Joshua D.; Garcia, Philip. |
Previous studies identify limited potential efficacy of weather derivatives in hedging agricultural exposures. In contrast to earlier studies which investigate the problem at low levels of aggregation, we find that better weather hedging opportunities may exist at higher levels of spatial aggregation. Aggregating production exposures reduces idiosyncratic risk, leaving a greater proportion of the total risk in the form of systemic weather risk which can be effectively hedged using relatively simple weather derivatives. The aggregation effect suggests that the potential for weather derivatives in agriculture may be greater than previously thought, particularly for aggregators of risk such as reinsurers. |
Tipo: Journal Article |
Palavras-chave: Crop insurance; Hedging; Reinsurance; Spatial aggregation; Systemic risk; Weather derivatives; Risk and Uncertainty. |
Ano: 2008 |
URL: http://purl.umn.edu/36705 |
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Mahul, Olivier. |
The demand for hedging against price uncertainty in the presence of crop yield and revenue insurance contracts is examined for two French wheat farms. The rationale for the use of options in addition to futures is first highlighted through the characterization of the first-best hedging strategy in the expected utility framework. It is then illustrated using numerical simulations. The presence of options is shown to allow the insured producer to adopt a more speculative position on the futures market. Futures are shown to be performing, in terms of willingness to receive. Options are weakly performing when futures markets are unbiased, while they are more performing when futures markets are biased. |
Tipo: Conference Paper or Presentation |
Palavras-chave: Crop insurance; Hedging; Producer welfare; Simulation; Risk and Uncertainty. |
Ano: 2002 |
URL: http://purl.umn.edu/24881 |
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Enjolras, Geoffroy; Sentis, P.. |
Using data for 2002-2005 on a representative survey of French farms (FADN-RICA), we investigate the different factors that lead farmers to insure against crop risk. Our analysis takes into account a mix of both standard individual, financial and agricultural criteria. Cross-sectional and longitudinal analyses as well as logistic regressions underline the main differences between insured and non-insured farms. Compared to non-insured farms, we find that insured farms present greater financial and agricultural sizes, a more diversified production and have been motivated by the occurrence of recent catastrophic climatic events. Although essential in the cross-sectional analysis, the influence of financial parameters in the decision to insure is mitigated. On... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Insurance; Demand; Crop insurance; Catastrophe risk; Risk and Uncertainty. |
Ano: 2008 |
URL: http://purl.umn.edu/44395 |
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Babcock, Bruce A.; Hart, Chad E.. |
The Agricultural Risk Protection Act (ARPA) has largely met its objectives of inducing farmers to increase their use of the crop insurance program. Both insured acreage and coverage levels have increased dramatically in response to ARPA's large increase in premium subsidies. An unintended consequence of the larger subsidies is a dramatic increase in the incentive for farmers to insure their crops under optional units, that is, insurance at the field level rather than at the farm or crop level. The expected rate of return to farmers who choose to invest additional premium dollars to move to optional unit coverage ranges from a low of 61 percent at the 85 percent coverage level to 144 percent at the 65 percent coverage level. This explains why the majority... |
Tipo: Working or Discussion Paper |
Palavras-chave: Agricultural Risk Protection Act (ARPA); Crop insurance; Optional units; Crop Production/Industries; Risk and Uncertainty. |
Ano: 2005 |
URL: http://purl.umn.edu/18297 |
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Ozaki,Vitor Augusto; Olinda,Ricardo; Faria,Priscila Neves; Campos,Rogério Costa. |
In any agricultural insurance program, the accurate quantification of the probability of the loss has great importance. In order to estimate this quantity, it is necessary to assume some parametric probability distribution. The objective of this work is to estimate the probability of loss using the theory of the extreme values modeling the left tail of the distribution. After that, the estimated values will be compared to the values estimated under the normality assumption. Finally, we discuss the implications of assuming a symmetrical distribution instead of a more flexible family of distributions when estimating the probability of loss and pricing the insurance contracts. Results show that, for the selected regions, the probability distributions present... |
Tipo: Info:eu-repo/semantics/article |
Palavras-chave: Risk; Extreme value theory; Probability of loss; Crop insurance. |
Ano: 2014 |
URL: http://www.scielo.br/scielo.php?script=sci_arttext&pid=S0103-20032014000100002 |
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Registros recuperados: 114 | |
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