Hedging dairy production losses using weather‐based index insurance

Xiaohui Deng, Barry Barnett, Dmitry Vedenov and Joe W. West

Agricultural Economics, 2007, vol. 36, issue 2, 271-280

Abstract: This article proposes a temperature–humidity index insurance product and examines whether this product can effectively protect against the risk of reduced milk production caused by heat stress. Results suggest that even when premiums are at higher than actuarially fair levels and the insurance purchaser is faced with both spatial and temporal basis risks, a temperature–humidity index insurance product would provide risk management benefits to a representative south‐central Georgia dairy producer.

Date: 2007
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https://doi.org/10.1111/j.1574-0862.2007.00204.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:agecon:v:36:y:2007:i:2:p:271-280

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