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Agricultural Finance Revenue Futures Contract

Author

Listed:
  • Martial Phélippé-Guinvarc'H
  • Jacques Janssen

    (ULB - Université libre de Bruxelles)

  • Jean Cordier

    (SMART-LERECO - Structures et Marché Agricoles, Ressources et Territoires - INRA - Institut National de la Recherche Agronomique - AGROCAMPUS OUEST)

Abstract

To respond to financial compound risk of farmers, two multiplicative derivative contracts, called respectively revenue futures contract and revenue put option, are proposed. The paper presents the theoretical management strategy of such a contract under the constraint that price and crop yield futures contracts are quoted.A financial intermediary can thus develop a risk-free management strategy to build a revenue futures contract. This paper opens perspectives on risk management for farmers, on completeness of markets and on new financial intermediation.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Martial Phélippé-Guinvarc'H & Jacques Janssen & Jean Cordier, 2004. "Agricultural Finance Revenue Futures Contract," Post-Print hal-02151823, HAL.
    • Handle: RePEc:hal:journl:hal-02151823
    DOI: 10.1142/S0219024904002372
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    Cited by:

    1. Phelippe-Guinvarc'h, Martial V. & Cordier, Jean E., 2006. "A private management strategy for the crop yield insurer: A theoretical approach and tests," Insurance: Mathematics and Economics, Elsevier, vol. 39(1), pages 35-46, August.

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