Cory G. Walters C. Richard Shumway Hayley H. Chouinard Philip R. Wandschneider () (School of Economic Sciences, Washington State University)
Abstract
Opportunistic behavior in crop insurance can arise due to asymmetric information between producers and the Federal Crop Insurance Corporation. Producers who insure fields using transitional yields based on county average yields or who select options such as buy-up coverage or revenue insurance may increase their return from crop insurance. Using field-level crop insurance contract data for several crops in five growing regions, we find evidence that producers can profit from using buy-up coverage, revenue insurance, and transitional yields and that the level of producer opportunism is crop but not necessarily land-quality specific and is greater due to premium subsidization.
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Paper provided by School of Economic Sciences, Washington State University in its series Working Papers with number
2008-9.
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