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Alternative Crop Insurance Indexes

Author

Listed:
  • Deng, Xiaohui
  • Barnett, Barry J.
  • Hoogenboom, Gerrit
  • Yu, Yingzhuo
  • Garcia, Axel Garcia y

Abstract

Three index-based crop insurance contracts are evaluated for representative south Georgia corn farms. The insurance contracts considered are based on indexes of historical county yields, yields predicted from a cooling degree-day production model, and yields predicted from a crop-simulation model. For some of the representative farms, the predicted yield index contracts provide yield risk protection comparable to the contract based on historical county yields, especially at lower levels of risk aversion. The impact of constraints on index insurance choice variables is considered and important interactions among constrained, conditionally optimized, choice variables are analyzed.

Suggested Citation

  • Deng, Xiaohui & Barnett, Barry J. & Hoogenboom, Gerrit & Yu, Yingzhuo & Garcia, Axel Garcia y, 2008. "Alternative Crop Insurance Indexes," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(1), pages 223-237, April.
    • Handle: RePEc:cup:jagaec:v:40:y:2008:i:01:p:223-237_02
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    Cited by:

    1. Vassalos, Michael & Dillon, Carl R. & Coolong, Tim, 2012. "Choice of Optimal Planting and Marketing Decisions for Fresh Vegetable Producers: A Mathematical Programming Approach," 2012 Annual Meeting, February 4-7, 2012, Birmingham, Alabama 120016, Southern Agricultural Economics Association.
    2. Moharram Ainollahi Ahmadabadi & Mohammad Ghahremanzadeh & Ghader Dashti & Seyed-Ali Hosseini-Yekani, 2025. "Evaluating Producer Welfare Benefits of Whole-Farm Revenue Insurance," Agriculture, MDPI, vol. 15(2), pages 1-20, January.
    3. Azadeh Falsafian & Mohammad Ghahremanzadeh & Taravat Aref Eshghi & Vali Rasooli Sharabiani & Mariusz Szymanek & Agata Dziwulska-Hunek, 2024. "Producer Welfare Benefits of Rating Area Yield Crop Insurance," Agriculture, MDPI, vol. 14(9), pages 1-21, September.
    4. Bucheli, Janic & Dalhaus, Tobias & Finger, Robert, 2022. "Temperature effects on crop yields in heat index insurance," Food Policy, Elsevier, vol. 107(C).
    5. Matthieu Stigler & David Lobell, 2024. "Optimal index insurance and basis risk decomposition: an application to Kenya," American Journal of Agricultural Economics, John Wiley & Sons, vol. 106(1), pages 306-329, January.
    6. Ghahremanzadeh, Mohammad & Mohammadrezaei, Rassul & Dashti, Ghader & Ainollahi, Moharram, . "Designing a whole-farm revenue insurance for agricultural crops in Zanjan province of Iran," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 17(02).
    7. Baez, Karen & Iglesias, Eva, 2011. "Innovative Tools To Address Drought Risk In Grazing Lands," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114232, European Association of Agricultural Economists.

    More about this item

    JEL classification:

    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • Q12 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Micro Analysis of Farm Firms, Farm Households, and Farm Input Markets

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