RAINFALL INSURANCE FOR MIDWEST CROP PRODUCTION
Dmitry Vedenov and
Mario Miranda ()
No 20458, 2001 Annual meeting, August 5-8, Chicago, IL from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
Abstract:
The paper discusses a methodology for design and pricing of index insurance contracts for crop production. The methodology heavily relies on establishing a relationship between the index and yields in order to evaluate the contract performance in hedging farmers' risk. However, analysis of yield/rainfall data series for Iowa corn and Kansas wheat fail to produce a reliable and meaningful relationship which can be used uniformly across several counties and/or crop producing districts. Further research is needed as to applicability of rainfall insurance to specific crop/region combinations.
Keywords: Crop Production/Industries; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 16
Date: 2001
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Citations: View citations in EconPapers (1)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea01:20458
DOI: 10.22004/ag.econ.20458
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