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Rating Exotic Price Coverage in Crop Revenue Insurance

Ford Ramsey and Barry Goodwin ()

No 205208, 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California from Agricultural and Applied Economics Association

Abstract: This paper considers exotic price coverage in crop insurance. The issue is similar to the pricing of options on extrema which are commonly called exotic options. Consideration is made of individual monthly average prices leading to a multivariate distribution with important dependencies. Additionally, the problem is approached in terms of the joint distribution of a maximum over an interval and the harvest time price.

Keywords: Agricultural Finance; Research Methods/ Statistical Methods; Risk and Uncertainty (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ias
Date: 2015
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