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Beef Producer Preferences and Purchase Decisions for Livestock Price Insurance

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  • Fields, Deacue
  • Gillespie, Jeffrey

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, 2008. "Beef Producer Preferences and Purchase Decisions for Livestock Price Insurance," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 40(3), pages 789-803, December.
  • Handle: RePEc:cup:jagaec:v:40:y:2008:i:03:p:789-803_00
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    References listed on IDEAS

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    1. Harrison, R. Wes & Ozayan, Aylin & Meyers, Samuel P., 1998. "A Conjoint Analysis Of New Food Products Processed From Underutilized Small Crawfish," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 30(2), pages 1-9, December.
    2. 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.
    3. 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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    2. Williams, Jeffery R. & Saffert, Andrew T. & Barnaby, G. Art & Llewelyn, Richard V. & Langemeier, Michael R., 2014. "A Risk Analysis of Adjusted Gross Revenue-Lite on Beef Farms," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 46(2), pages 227-244, May.
    3. 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, Northeastern Agricultural and Resource Economics Association, vol. 42(3), pages 1-24, December.
    4. H. Holly Wang & Lu Liu & David L. Ortega & Yu Jiang & Qiujie Zheng, 2020. "Are smallholder farmers willing to pay for different types of crop insurance? An application of labelled choice experiments to Chinese corn growers," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(1), pages 86-110, January.
    5. 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(4), pages 1-15, August.

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