A Comparison of Subjective and Historical Yield Distributions With Implications For Multiple Peril Crop Insurance
Jean Buzby (),
Phil L. Kenkel,
Jerry R. Skees,
James W. Pease and
Fred J. Benson
No 270874, 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
This study examines the relationship between subjective yield distributions elicited from Kentucky farmers in 1987 and 1989 and their historical yield distributions using insurance concepts. The results indicate close correspondence between the first moments of the distributions and a marked difference in skewness suggesting that farmers underestimate their downside risk.
Keywords: Agricultural Finance; Crop Production/Industries (search for similar items in EconPapers)
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