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Rating Crop Insurance Contracts with Model Stacking of Gaussian Processes

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  • Liang, Weifang
  • Liu, Yong

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  • Liang, Weifang & Liu, Yong, 2023. "Rating Crop Insurance Contracts with Model Stacking of Gaussian Processes," 2023 Annual Meeting, July 23-25, Washington D.C. 335759, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea22:335759
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    File URL: https://ageconsearch.umn.edu/record/335759/files/25989.pdf
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    References listed on IDEAS

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    1. Liu, Yong & Ker, Alan P., 2020. "Rating Crop Insurance Contracts with Nonparametric Bayesian Model Averaging," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 45(2), March.
    2. Joshua D. Woodard & Bruce J. Sherrick, 2011. "Estimation of Mixture Models using Cross-Validation Optimization: Implications for Crop Yield Distribution Modeling," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(4), pages 968-982.
    3. Ralph R. Botts & James N. Boles, 1958. "Use of Normal-Curve Theory in Crop Insurance Ratemaking," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 40(3), pages 733-740.
    4. Paul Gallagher, 1987. "U.S. Soybean Yields: Estimation and Forecasting with Nonsymmetric Disturbances," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(4), pages 796-803.
    5. Alan P. Ker & Tor N. Tolhurst & Yong Liu, 2016. "Bayesian Estimation of Possibly Similar Yield Densities: Implications for Rating Crop Insurance Contracts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 98(2), pages 360-382.
    6. Jesse Tack & Ardian Harri & Keith Coble, 2012. "More than Mean Effects: Modeling the Effect of Climate on the Higher Order Moments of Crop Yields," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(5), pages 1037-1054.
    7. Geweke, John & Amisano, Gianni, 2011. "Optimal prediction pools," Journal of Econometrics, Elsevier, vol. 164(1), pages 130-141, September.
    8. Alan P Ker & Tor N Tolhurst, 2019. "On the Treatment of Heteroscedasticity in Crop Yield Data," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 101(4), pages 1247-1261.
    9. Gallagher, Paul W., 1987. "U.S. Soybean Yields: Estimation and Forecasting with Non-Symmetric Disturbances," Staff General Research Papers Archive 10779, Iowa State University, Department of Economics.
    10. Kuangyu Wen & Ximing Wu & David J. Leatham, 2021. "Spatially Smoothed Kernel Densities with Application to Crop Yield Distributions," Journal of Agricultural, Biological and Environmental Statistics, Springer;The International Biometric Society;American Statistical Association, vol. 26(3), pages 349-366, September.
    11. Ximing Wu & Yu Yvette Zhang, 2020. "A local maximum likelihood model of crop yield distributions," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(1), pages 117-125, March.
    12. Barry K. Goodwin & Alan P. Ker, 1998. "Nonparametric Estimation of Crop Yield Distributions: Implications for Rating Group-Risk Crop Insurance Contracts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 139-153.
    13. Charles B. Moss & J. S. Shonkwiler, 1993. "Estimating Yield Distributions with a Stochastic Trend and Nonnormal Errors," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(4), pages 1056-1062.
    14. Joseph Atwood & Saleem Shaik & Myles Watts, 2003. "Are Crop Yields Normally Distributed? A Reexamination," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(4), pages 888-901.
    15. Ardian Harri & Keith H. Coble & Alan P. Ker & Barry J. Goodwin, 2011. "Relaxing Heteroscedasticity Assumptions in Area-Yield Crop Insurance Rating," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 93(3), pages 703-713.
    16. Carl H. Nelson & Paul V. Preckel, 1989. "The Conditional Beta Distribution as a Stochastic Production Function," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(2), pages 370-378.
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    Keywords

    Risk and Uncertainty; Agricultural and Food Policy; Research Methods/Statistical Methods;
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