Preferences for Livestock Revenue Insurance Among Beef Producers

Deacue Fields and Jeffrey Gillespie

Journal of Agribusiness, 2007, vol. 25, issue 01, 13

Abstract: Personal interviews were conducted with 52 Louisiana cow-calf producers to determine their preferences for a livestock revenue insurance (LRI) product. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. Two-limit tobit models were estimated. Producers were segmented using cluster analysis based upon preferences for LRI product attributes. A multinomial logit model was used to determine differences between characteristics of producers in each cluster. Producers generally preferred higher-premium, zero-deductible products; 180-day policy length; the state price series; and an in-person method of marketing. Cluster analysis yielded three groups of preferences

Keywords: Agribusiness; Livestock Production/Industries (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:62288

DOI: 10.22004/ag.econ.62288

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