Farmers' Subjective Yield Distributions: Calibration and Implications for Crop Insurance Valuation
This paper examines the role of overconfidence in explaining farmer crop insurance purchasing decisions. The authors hypothesize that overconfidence could influence the participation decision and test this hypothesis. The preliminary results indicate that farmers are overconfident; however, the relationship between overconfidence and the insurance use remains uncertain.
|Date of creation:||2005|
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