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Income insurance as a risk management tool after 2013 CAP reforms?

Author

Listed:
  • Meuwissen, Miranda P.M.
  • Van Asseldonk, Marcel A.P.M.
  • Pietola, Kyosti
  • Hardaker, J. Brian
  • Huirne, Ruud B.M.

Abstract

The ecosystem and the economic subsystem are interlinked. In fact, it is the overconsumption of scarce resources or the overproduction of bad outputs at economic system level that causes a great part of the imbalances at the ecosystem level. Some imbalances do not originate at the economic system level, but are due to external factors. Given the possibility of external shocks, respecting static sustainability thresholds is not a guarantee for system sustainability. In a dynamic setting, the concept of resilience is therefore helpful. In this paper we show how this concept can complement the traditional efficiency approach to come to a sustainable value creating economic system.

Suggested Citation

  • Meuwissen, Miranda P.M. & Van Asseldonk, Marcel A.P.M. & Pietola, Kyosti & Hardaker, J. Brian & Huirne, Ruud B.M., 2011. "Income insurance as a risk management tool after 2013 CAP reforms?," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114649, European Association of Agricultural Economists.
  • Handle: RePEc:ags:eaae11:114649
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    File URL: http://purl.umn.edu/114649
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    References listed on IDEAS

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    1. Dismukes, Robert & Durst, Ron L., 2006. "Whole-Farm Approaches to a Safety Net," Economic Information Bulletin 33893, United States Department of Agriculture, Economic Research Service.
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    Cited by:

    1. El Benni, Nadja & Finger, Robert, 2014. "Where is the risk? Price, yield and cost risk in Swiss crop production," Revue d'Etudes en Agriculture et Environnement, Editions NecPlus, vol. 95(03), pages 299-326, September.
    2. Finger, Robert, 2012. "How strong is the “natural hedge”? The effects of crop acreage and aggregation levels," 123rd Seminar, February 23-24, 2012, Dublin, Ireland 122538, European Association of Agricultural Economists.
    3. Assefa, Tsion Taye & Meuwissen, Miranda P.M. & Van Asseldonk, Marcel A.P.M., "undated". "Mutual insurance companies as a tool for farmer income stabilization: performance and prospects in the CAP," 126th Seminar, June 27-29, 2012, Capri, Italy 125991, European Association of Agricultural Economists.
    4. Robert Finger & Nadja El Benni, 2012. "A Note on Price Risks in Swiss Crop Production – Empirical Results and Comparisons with other Countries," Journal of Socio-Economics in Agriculture (Until 2015: Yearbook of Socioeconomics in Agriculture), Swiss Society for Agricultural Economics and Rural Sociology, vol. 5(1), pages 131-151.

    More about this item

    Keywords

    Income volatility; Income insurance; Expert elicitation; Price insurance; Risk and Uncertainty;

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