Estimating Crop Losses Due to Hail

Larry M. Boone

No 307513, Agricultural Economic Reports from United States Department of Agriculture, Economic Research Service

Abstract: Crops lost annually by hail damage have an estimated value of $403 million a year (at 1968 prices), or about 2 percent of the nation's total annual crop value. The same annual crop damage valued at 1973 prices would be $685 million. Over four-fifths of this damage is in wheat, corn, soybeans, cotton, tobacco, and grain sorghum. The procedure developed for these estimates of crop damage due to hail used harvested crop values and crop-hail insurance loss payments per $100 of insured liability. Several downward biases in the estimates caused by data configurations are identified but not quantified.

Keywords: Crop Production/Industries; Research Methods/Statistical Methods; Risk and Uncertainty (search for similar items in EconPapers)
Pages: 45
Date: 1974-12
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerser:307513

DOI: 10.22004/ag.econ.307513

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