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The Policy of Risk Management

In: US Programs Affecting Food and Agricultural Marketing

Author

Listed:
  • Matthew C. Roberts

    (The Ohio State University)

Abstract

Agricultural and food production is fundamentally different than other forms of production in the economy, and the differences require alternate methods of risk management. This chapter reviews the primary tools available to producers for the management of price and quantity risk, including insurance, government programs, and market-based instruments. Each of these tools is explained in both historical context and for how it impacts on market function. Current controversies in policy and markets and marketing are then discussed, as are recent research findings and proposed solutions. Some of the controversies addressed are the impact of speculation, packer ownership of cattle, and planting restrictions for decoupled payments.

Suggested Citation

  • Matthew C. Roberts, 2013. "The Policy of Risk Management," Natural Resource Management and Policy, in: Walter J. Armbruster & Ronald D. Knutson (ed.), US Programs Affecting Food and Agricultural Marketing, edition 127, chapter 0, pages 401-416, Springer.
    • Handle: RePEc:spr:nrmchp:978-1-4614-4930-0_15
    DOI: 10.1007/978-1-4614-4930-0_15
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