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Beef Producer Preferences And Purchase Decisions For Livestock Revenue Insurance Products

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  • Fields, Deacue
  • Gillespie, Jeffrey M.

Abstract

Personal interviews were conducted with 52 beef cattle producers in Louisiana to determine their preferences and purchase decisions for livestock revenue insurance. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. The characteristics of producers who prefer given attributes were also identified. Producers rated products given four economic situations to evaluate. A two-limit tobit model was used to estimate the part worth utility values for each attribute. Univariate probit models were estimated to evaluate the influence of producer characteristics on purchase decisions.

Suggested Citation

  • Fields, Deacue & Gillespie, Jeffrey M., 2003. "Beef Producer Preferences And Purchase Decisions For Livestock Revenue Insurance Products," 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama 35089, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeatm:35089
    DOI: 10.22004/ag.econ.35089
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    References listed on IDEAS

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    1. Harrison, R. Wes & Ozayan, Aylin & Meyers, Samuel P., 1998. "A Conjoint Analysis Of New Food Products Processed From Underutilized Small Crawfish," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 30(2), pages 1-9, December.
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    6. Barry E. Prentice & Dave Benell, 1992. "Determinants of Empty Returns by U.S. Refrigerated Trucks: Conjoint Analysis Approach," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 40(1), pages 109-127, March.
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