Willingness to Pay for a Potential Insurance Policy: Case Study of Trout Aquaculture

Saleem Shaik, Keith Coble, Darren Hudson, James C. Miller, Terrill R. Hanson and Stephen H. Sempier

Agricultural and Resource Economics Review, 2008, vol. 37, issue 01, 10

Abstract: Using trout producer survey data and the contingent valuation method, we estimate willing-ness to pay for a potential insurance policy. The survey was conducted in 2005 across the United States; 268 producers completed the survey instrument, resulting in a response rate of 81 percent. Design of the contingent valuation method takes into account two coverage levels and four premium rates. Using standard willingness-to-pay techniques, we assess the premium rate that producers with varying practices and regions are willing to pay for two different cov-erage levels of insurance. In general, trout producers appear willing to pay premium rates of 2 to 11 percent for these coverage levels.

Keywords: Livestock Production/Industries; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:arerjl:44737

DOI: 10.22004/ag.econ.44737

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