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Evaluating the Interaction between Farm Programs with Crop Insurance and Producers' Risk Preferences

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  • Davis, Todd D.
  • Anderson, John D.
  • Young, Robert E.

Abstract

A stochastic simulation model is used to simulate crop revenues net of farm policy and crop insurance costs. Certainty equivalent analysis is used to rank farm policy and crop insurance alternatives for varying levels of risk aversion.

Suggested Citation

  • Davis, Todd D. & Anderson, John D. & Young, Robert E., 2013. "Evaluating the Interaction between Farm Programs with Crop Insurance and Producers' Risk Preferences," 2013 AAEA: Crop Insurance and the Farm Bill Symposium, October 8-9, Louisville, KY 156753, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaeaci:156753
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    File URL: http://purl.umn.edu/156753
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    References listed on IDEAS

    as
    1. Allan W. Gray & Michael D. Boehlje & Brent A. Gloy & Stephen P. Slinsky, 2004. "How U.S. Farm Programs and Crop Revenue Insurance Affect Returns to Farm Land," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 26(2), pages 238-253.
    2. Anderson, John D. & Harri, Ardian & Coble, Keith H., 2009. "Techniques for Multivariate Simulation from Mixed Marginal Distributions with Application to Whole-Farm Revenue Simulation," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(1), April.
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    Keywords

    farm management; risk management; Farm Management; Risk and Uncertainty;

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