Government Program Impacts on the Selection of Crop Insurance in Northeastern Kansas

Jeffery Williams, Jayson K. Harper and G. Art Barnaby

Review of Agricultural Economics, 1990, vol. 12, issue 2, 207-221

Abstract: The impact of the government commodity program, crop insurance, disaster aid, and optional paid land diversion on net return risk for corn and soybeans is examined. Results indicate that most preferred risk management strategies include crop insurance for corn in northeast Kansas whether disaster aid is available or not. Crop insurance for soybeans is generally not preferred. Participation in the optional paid diversion program is a preferred risk management strategy for extremely risk averse producers. Willingness to pay analysis indicates that moderately and strongly risk averse producers would be willing to pay more for crop insurance when disaster aid and the optional paid land diversion for corn are not available. Risk averse corn producers would be willing to pay more for crop insurance than disaster aid as well.

Date: 1990
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