Risk in Agriculture: Modeling Revenue Insurance for Crop Farms in Belgium

Kristiana Hansen and Bruno Henry de Frahan

No 61535, 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado from Agricultural and Applied Economics Association

Abstract: With trade liberalization in the Common Agricultural Policy, farmers within the European Union are increasingly exposed to the risk of fluctuations in output price and yields. Using numerical simulation methods, we model the effects of crop insurance on farm revenues and land allocation patterns among arable crop farms in the Region of Wallonia in the south of Belgium. We employ a mathematical programming framework within which we have embedded an econometrically estimated, farm-specific cost function that allows us to analyze the farm-specific effects of crop insurance.

Keywords: Agricultural and Food Policy; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 2
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea10:61535

DOI: 10.22004/ag.econ.61535

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