MODELING CATASTROPHIC WEATHER EVENTS AND THE RISKS OF ANIMAL WASTE SPILLS IN THE COASTAL PLAIN OF NORTH CAROLINA

Barry Goodwin () and Daniel G. Hallstrom

No 20241, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This paper considers probabilistic models of hurricane-induced animal waste lagoon failures in North Carolina. A substantial number of waste lagoons exist in areas prone to hurricane damages. We evaluate expected losses which represent actuarially-fair insurance premium rates for a plan that would indemnify producers against damages from lagoon failures. Our results imply annual premiums ranging from under $100 per year to over $2,062 per year. An interesting result is that those areas with the highest levels of expected loss are also those areas with the greatest concentration of waste lagoons.

Keywords: Environmental Economics and Policy; Livestock Production/Industries (search for similar items in EconPapers)
Pages: 22
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20241

DOI: 10.22004/ag.econ.20241

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