Beef Producer Preferences and Purchase Decisions for Livestock Price Insurance

Deacue Fields and Jeffrey Gillespie

Journal of Agricultural and Applied Economics, 2008, vol. 40, issue 03

Abstract: Personal interviews were conducted with beef cattle producers in Louisiana to determine their preferences and purchase decisions for livestock price insurance. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. The characteristics of producers who prefer given attributes were also identified. Producers rated products given four economic situations to evaluate. A two-limit tobit model was used to estimate the part worth utility values for each attribute. Univariate probit models were estimated to evaluate the influence of producer characteristics on purchase decisions.

Keywords: conjoint; livestock price insurance; ordered probit; two-limit tobit; Agribusiness; Demand and Price Analysis; Livestock Production/Industries (search for similar items in EconPapers)
Date: 2008
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