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Risk-Efficient Coverage Selection Strategies for the Pasture, Rangeland, Forage (PRF) Insurance Program

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  • Zapata, Samuel D.
  • García, José María

Abstract

The Pasture, Rangeland, Forage (PRF) insurance program is aimed to assist producers to manage the risk of forage loss due to the lack of precipitation. However, limited attention has been given to understanding the implications of policyholders’ coverage selection decisions. In this study, three alternative risk-efficient portfolio selection strategies are assessed in to the context of the PRF program. Proposed methods consider all the decision parameters and program restrictions, and they highlighted the underlying relationships between expected revenue, risk, and choice of the coverage parameters. Selection strategies are illustrated by examining the optimal coverage for a grid in South Texas.

Suggested Citation

  • Zapata, Samuel D. & García, José María, 2022. "Risk-Efficient Coverage Selection Strategies for the Pasture, Rangeland, Forage (PRF) Insurance Program," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 54(2), pages 286-305, May.
    • Handle: RePEc:cup:jagaec:v:54:y:2022:i:2:p:286-305_5
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    Cited by:

    1. Goodrich, Brittney K. & Davidson, Kelly A., 2024. "Enrollment in Pasture, Rangeland, and Forage Rainfall Index Insurance: Awareness Matters," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 0(Preprint), January.

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