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Implications Of Crop Insurance For Farmers And Lenders

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Author Info

  • Leatham, David J.
  • McCarl, Bruce A.
  • Richardson, James W.

Abstract

The effect of the farmer's choice of crop insurance was evaluated on both the farmer's and lender's performance. This was done using whole-farm, Monte Carlo simulation for Texas wheat/sorghum operations. Results indicate crop insurance would be preferred by moderately risk-averse farmers when farm firm failure became an issue or the insurance loss ration approached one. A lender always preferred the use of crop insurance, especially when the probability of firm bankruptcy was an issue.

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Bibliographic Info

Article provided by Southern Agricultural Economics Association in its journal Southern Journal of Agricultural Economics.

Volume (Year): 19 (1987)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:sojoae:30193

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Web page: http://www.saea.org/jaae/jaae.htm
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Related research

Keywords: Risk and Uncertainty;

References

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  1. Richardson, James W. & Lemieux, Catharine M. & Nixon, Clair J., 1983. "Entry Into Farming: The Effects Of Leasing And Leverage On Firm Survival," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 15(02), December.
  2. McCarl, Bruce A., 1988. "Preference Among Risky Prospects Under Constant Risk Aversion," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(02), December.
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Cited by:
  1. Seo, Sangtaek & Leatham, David J. & Mitchell, Paul D., 2003. "Risk Sharing and Incentives with Crop Insurance and External Equity Financing," Proceedings: 2003 Regional Committee NCT-194, October 6-7, 2003; Kansas City, Missouri 132523, Regional Research Committee NC-1014: Agricultural and Rural Finance Markets in Transition.

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