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Preferences for Livestock Revenue Insurance Among Beef Producers

Author

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  • Fields, Deacue
  • Gillespie, Jeffrey M.

Abstract

Personal interviews were conducted with 52 Louisiana cow-calf producers to determine their preferences for a livestock revenue insurance (LRI) product. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. Two-limit tobit models were estimated. Producers were segmented using cluster analysis based upon preferences for LRI product attributes. A multinomial logit model was used to determine differences between characteristics of producers in each cluster. Producers generally preferred higher-premium, zero-deductible products; 180-day policy length; the state price series; and an in-person method of marketing. Cluster analysis yielded three groups of preferences

Suggested Citation

  • Fields, Deacue & Gillespie, Jeffrey M., 2007. "Preferences for Livestock Revenue Insurance Among Beef Producers," Journal of Agribusiness, Agricultural Economics Association of Georgia, vol. 25(1), pages 1-13.
    • Handle: RePEc:ags:jloagb:62288
    DOI: 10.22004/ag.econ.62288
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    File URL: https://ageconsearch.umn.edu/record/62288/files/JAB_Spr07__07_pp93-105.pdf
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    References listed on IDEAS

    as
    1. Harrison, R. Wes & Stringer, Timothy & Prinyawiwatkul, Witoon, 2002. "An Analysis of Consumer Preferences for Value-Added Seafood Products Derived from Crawfish," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 31(2), pages 1-14, October.
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