An Estimated Analysis of Willingness to Wait Time to Pay Rice Agricultural Insurance Premiums Using Cox’s Proportional Hazards Model

Yuyun Hidayat (), Sukono, Betty Subartini, Nida Khairunnisa, Aceng Sambas and Titi Purwandari
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Yuyun Hidayat: Department of Statistics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, Sumendang 45363, Indonesia
Sukono: Department of Mathematics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, Sumedang 45363, Indonesia
Betty Subartini: Department of Mathematics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, Sumedang 45363, Indonesia
Nida Khairunnisa: Undergraduate Program in Mathematics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, Sumedang 45363, Indonesia
Aceng Sambas: Department of Mechanical Engineering, Universitas Muhammadiyah Tasikmalaya, Tasikmalaya 46196, Indonesia
Titi Purwandari: Department of Statistics, Faculty of Mathematics and Natural Sciences, Universitas Padjadjaran, Sumendang 45363, Indonesia

Mathematics, 2022, vol. 10, issue 21, 1-16

Abstract: In this paper, we determined the factors that affect the waiting time of rice farmers’ willingness to pay the premium for the Rice Farming Insurance Program (RFIP) using survival analysis. The survival analysis method was carried out using the Cox proportional hazard model with the Efron approach. The case study in this research is rice farmers in Cibungur Village, Parungponteng District, Tasikmalaya Regency. The results of the analysis show that the predictor variables that are significant to the waiting time of rice farmers’ willingness to pay the insurance premium for RFIP are their last education, other occupations, rice production, and farming costs. The results of the research are expected to produce additional information for the government and implementers of rice farming insurance regarding the condition of farmers in the field, so that it can be improved in the future.

Keywords: rice farming insurance; Cox proportional hazard model; survival analysis (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
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