Is there a demand for multi-year crop insurance?

Maria Osipenko, Zhiwei Shen and Martin Odening

No 2014-025, SFB 649 Discussion Papers from Humboldt University Berlin, Collaborative Research Center 649: Economic Risk

Abstract: In this paper we adapt a dynamic discrete choice model to examine the aggregated demand for single- and multi-year crop insurance contracts. We show that in a competitive insurance market with heterogeneous risk averse farmers, there is simultaneous demand for both insurance contracts. Moreover, the introduction of multi-year contracts enhances the market penetration of insurance products. Using U.S. corn yield data, we empirically assess the potential of multi-year crop insurance.

Keywords: multi-year insurance; index-based crop insurance; dynamic discrete choice model (search for similar items in EconPapers)
JEL-codes: D81 G22 Q14 (search for similar items in EconPapers)
Date: 2014
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Journal Article: Is there a demand for multi-year crop insurance? (2015)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:sfb649:sfb649dp2014-025

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