IDEAS home Printed from https://ideas.repec.org/a/taf/uaajxx/v22y2018i2p289-308.html
   My bibliography  Save this article

Estimation of Crop Yields and Insurance Premiums Using a Shrinkage Estimator

Author

Listed:
  • Sebastain N. Awondo
  • Octavio A. Ramirez
  • Gauri S. Datta
  • Gregory Colson
  • Esendugue G. Fonsah

Abstract

We explore the estimation of crop yields and insurance premiums using a hierarchical Bayes small area estimator. The estimator is evaluated for Area Yield Production (AYP) policy using quasi-simulated corn yields in the United States. Its performance in producing reliable mean county yield and premium estimates is compared to that of a naive estimator. We also investigate the impact of these efficiency improvements on the residual losses between a farm-level policy and AYP. The proposed estimator is found to be substantially more efficient and less biased than the naive estimator.

Suggested Citation

  • Sebastain N. Awondo & Octavio A. Ramirez & Gauri S. Datta & Gregory Colson & Esendugue G. Fonsah, 2018. "Estimation of Crop Yields and Insurance Premiums Using a Shrinkage Estimator," North American Actuarial Journal, Taylor & Francis Journals, vol. 22(2), pages 289-308, April.
  • Handle: RePEc:taf:uaajxx:v:22:y:2018:i:2:p:289-308
    DOI: 10.1080/10920277.2017.1404477
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/10920277.2017.1404477
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Awondo, S. & Datta, G., 2018. "Performance of Farm Level Vs Area Level Crop Insurance," 2018 Conference, July 28-August 2, 2018, Vancouver, British Columbia 277265, International Association of Agricultural Economists.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:uaajxx:v:22:y:2018:i:2:p:289-308. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: http://www.tandfonline.com/uaaj .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/uaaj .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.