A TWO-STAGE MODEL OF THE DEMAND FOR SPECIALTY CROP INSURANCE

Lyle Knox and Timothy James Richards

No 21681, 1999 Annual meeting, August 8-11, Nashville, TN from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: Legislators are considering raising catastrophic (CAT 50% coverage) crop insurance premiums. However, estimates of a two-stage coverage-choice and participation model using county-level data from California grape growers show that the demand for CAT insurance is price-elastic, therefore, premium increases will worsen the financial performance of the grape-insurance program.

Keywords: crop insurance; discrete / continuous choice; grapes; multinomial logit; Research Methods/ Statistical Methods; Risk and Uncertainty (search for similar items in EconPapers)
Date: 1999
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Related works:
Journal Article: A TWO-STAGE MODEL OF THE DEMAND FOR SPECIALTY CROP INSURANCE (2000)
Working Paper: A Two Stage Model of the Demand For Specialty Crop Insurance (1998)
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