Optimal Producer Behavior in the Presence of Area-Yield Crop Insurance

Robert G Chambers () and John Quiggin ()

American Journal of Agricultural Economics, 2002, vol. 84, issue 2, pages 320-34

Abstract: Optimal producer behavior in the presence of area-yield insurance is studied. The producer's optimal production and insurance choices are characterized. The effect of the provision of area-yield insurance on production patterns is studied, and sufficient conditions for the provision of area-yield insurance to increase the riskiness of the individual producer's decisions are derived. A separation result is derived for area-yield insurance contracts and stochastic technologies. Copyright 2002 by American Agricultural Economics Association

Date: 2002
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American Journal of Agricultural Economics is edited by Peter Berck, Robert J. Myers, Ian M. Sheldon and B. Wade Brorsen

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