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Beef Producer Preferences and Purchase Decisions for Livestock Price Insurance

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  • Fields, Deacue
  • Gillespie, Jeffrey M.

Abstract

Personal interviews were conducted with beef cattle producers in Louisiana to determine their preferences and purchase decisions for livestock price insurance. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. The characteristics of producers who prefer given attributes were also identified. Producers rated products given four economic situations to evaluate. A two-limit tobit model was used to estimate the part worth utility values for each attribute. Univariate probit models were estimated to evaluate the influence of producer characteristics on purchase decisions.

Suggested Citation

  • Fields, Deacue & Gillespie, Jeffrey M., 2008. "Beef Producer Preferences and Purchase Decisions for Livestock Price Insurance," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(03), December.
  • Handle: RePEc:ags:joaaec:47259
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    References listed on IDEAS

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    1. Barry E. Prentice & Dave Benell, 1992. "Determinants of Empty Returns by U.S. Refrigerated Trucks: Conjoint Analysis Approach," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 40(1), pages 109-127, March.
    2. Pennings, Joost M. E., 2002. "Pulling the trigger or not: Factors affecting behavior of initiating a position in derivatives markets," Journal of Economic Psychology, Elsevier, vol. 23(2), pages 263-278, April.
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    Cited by:

    1. Campbell, Benjamin L. & Mhlanga, Saneliso & Lesschaeve, Isabelle, 2013. "Consumer Preferences for Peach Attributes: Market Segmentation Analysis and Implications for New Marketing Strategies," Agricultural and Resource Economics Review, Cambridge University Press, vol. 42(03), pages 518-541, December.
    2. Pesek, John D., Jr. & Bernard, John C. & Gupta, Meeta, 2011. "Consumer Interest in Environmentally Beneficial Chicken Feeds: Comparing High Available Phosphorus Corn and Other Varieties," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 43(04), November.

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