A Flexible Parametric Family for the Modeling and Simulation of Yield Distributions
AbstractThe distributions currently used to model and simulate crop yields are unable to accommodate a substantial subset of the theoretically feasible mean-variance-skewness-kurtosis (MVSK) hyperspace. Because these first four central moments are key determinants of shape, the available distributions might not be capable of adequately modeling all yield distributions that could be encountered in practice. This study introduces a system of distributions that can span the entire MVSK space and assesses its potential to serve as a more comprehensive parametric crop yield model, improving the breadth of distributional choices available to researchers and the likelihood of formulating proper parametric models.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 42 (2010)
Issue (Month): 02 (May)
risk analysis; parametric methods; yield distributions; yield modeling and simulation; yield nonnormality; Agribusiness; Agricultural Finance; Crop Production/Industries; Land Economics/Use; Production Economics; Productivity Analysis; Research Methods/ Statistical Methods; C15; C16; C46; C63;
Find related papers by JEL classification:
- C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
- C16 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Econometric and Statistical Methods; Specific Distributions
- C46 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Specific Distributions
- C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques
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- Ramirez, Octavio A. & Carpio, Carlos E. & Rejesus, Roderick M., 2009.
"Can Crop Insurance Premiums be Reliably Estimated?,"
2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin
49465, Agricultural and Applied Economics Association.
- Ramirez, Octavio A. & Carpio, Carlos E. & Rejesus, Roderick M., 2011. "Can Crop Insurance Premiums Be Reliably Estimated?," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 40(1), April.
- Colson, Gregory & Ramirez, Octavio A. & Fu, Shengfei, 2013. "Crop Insurance Savings Accounts: A Viable Alternative to Crop Insurance?," Faculty Series 146993, University of Georgia, Department of Agricultural and Applied Economics.
- Octavio A. Ramirez & Carlos A. Carpio, 2012. "Premium estimation inaccuracy and the actuarial performance of the US crop insurance program," Agricultural Finance Review, Emerald Group Publishing, vol. 72(1), pages 117-133, March.
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