Farm risk management between normal business risk and climatic/market shocks

Jean Cordier

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Abstract: Farm risk management for income stabilization is on-going issue. An applied work has been performed to measure farm risk using a stochastic model. Risk management tools, with symmetric as well as asymmetric impacts, are then tested and compared through ad hoc statistics. Normal farm business risk can be efficiently managed using a precautionary saving provision. Farm revenue insurance is found as the most efficient asymmetric tool for dealing with climatic and market shocks. The linkage between these complementary tools can be adjusted upon market environment.

Keywords: EVALUATION; PERFORMANCE; GESTION; RISQUE; RISK MANAGEMENT; FARM RISK; RISK MANAGEMENT TOOL (search for similar items in EconPapers)
Date: 2008-02-08
Note: View the original document on HAL open archive server: https://institut-agro-rennes-angers.hal.science/hal-00729137v1
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Published in 108. EAAE Seminar: Income stabilization in a changing agricultural world: policy and tools, Feb 2008, Varsovie (PL), Poland. pp.127-139

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Working Paper: Farm Risk Management Between Normal Business Risk and Climatic/Market Shocks (2008)
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