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Agricultural Finance Revenue Futures Contract

Author

Listed:
  • MARTIAL V. GUINVARC'H
  • JACQUES JANSSEN

    (CESIAS, Bd Paul Janson, N°84, BP 9, B6000 Charleroi, Belgium)

  • JEAN E. CORDIER

    (ENSAR, 65, rue de Saint Brieuc, CS 84125, 35042 Rennes cedex, France)

Abstract

To respond to financial compound risk of farmers, two multiplicative derivative contracts, called respectively revenue futures contract and revenue put option, are proposed. The paper presents the theoretical management strategy of such a contract under the constraint that price and crop yield futures contracts are quoted.A financial intermediary can thus develop a risk-free management strategy to build a revenue futures contract. This paper opens perspectives on risk management for farmers, on completeness of markets and on new financial intermediation.

Suggested Citation

  • Martial V. Guinvarc'H & Jacques Janssen & Jean E. Cordier, 2004. "Agricultural Finance Revenue Futures Contract," International Journal of Theoretical and Applied Finance (IJTAF), World Scientific Publishing Co. Pte. Ltd., vol. 7(02), pages 85-99.
    • Handle: RePEc:wsi:ijtafx:v:07:y:2004:i:02:n:s0219024904002372
    DOI: 10.1142/S0219024904002372
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    Cited by:

    1. Phelippe-Guinvarc'h, Martial V. & Cordier, Jean E., 2006. "A private management strategy for the crop yield insurer: A theoretical approach and tests," Insurance: Mathematics and Economics, Elsevier, vol. 39(1), pages 35-46, August.

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