The Economics Of Insuring Crops Against Drought
The necessary conditions for the existence of a financially viable crop insurance scheme against drought are examined. A supply and demand model for crop insurance is developed which identifies the parameters that are critical to the efficiency of such a scheme. The values of these parameters are estimated by using data from the Australian wheat industry. It is found that crop insurance against drought would appear to be unattractive from an efficiency point of view.
Volume (Year): 28 (1984)
Issue (Month): 01 (April)
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- Edward C Prescott & Robert M Townsend, 2010.
"Pareto Optima and Competitive Equilibria With Adverse Selection and Moral Hazard,"
Levine's Working Paper Archive
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Australian Agricultural and Resource Economics Society, vol. 23(03), December.
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- repec:tpr:qjecon:v:88:y:1974:i:1:p:44-62 is not listed on IDEAS
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