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Microeconomic Evaluation Of Farm Risk Management Decisions In Kentucky

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  • Kanakasabai, Murali
  • Dillon, Carl R.
  • Skees, Jerry R.

Abstract

The primary objective of this research is to integrate various avenues of risk management to provide a unified risk management strategy for the Kentucky producer. In addition the optimal insurance purchasing behavior and the impact of moral hazard on the optimal decisions of producers across risk levels is also studied. The study utilizes biophysical simulation modeling and quadratic programming to arrive at its results.

Suggested Citation

  • Kanakasabai, Murali & Dillon, Carl R. & Skees, Jerry R., 2001. "Microeconomic Evaluation Of Farm Risk Management Decisions In Kentucky," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36178, Western Agricultural Economics Association.
    • Handle: RePEc:ags:waealo:36178
    DOI: 10.22004/ag.econ.36178
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    References listed on IDEAS

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    2. Thomas R. Harris & Harry P. Mapp, 1986. "A Stochastic Dominance Comparison of Water-Conserving Irrigation Strategies," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(2), pages 298-305.
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    9. Misra, Sukant K. & Spurlock, Stan R., 1991. "Incorporating the Impacts of Uncertain Fieldwork Time on Whole-Farm Risk-Return Levels: A Target MOTAD Approach," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 23(2), pages 9-18, December.
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    14. Boggess, William G. & Amerling, C.B., 1983. "A Bioeconomic Simulation Analysis Of Irrigation Investments," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 15(2), pages 1-7, December.
    15. Dillon, Carl R., 1992. "Microeconomic Effects Of Reduced Yield Variability Cultivars Of Soybeans And Wheat," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 24(1), pages 121-133, July.
    16. Hurd, Brian H., 1994. "Yield Response And Production Risk: An Analysis Of Integrated Pest Management In Cotton," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(2), pages 1-14, December.
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    19. Dillon, Carl R., 1999. "Production Practice Alternatives For Income And Suitable Field Day Risk Management," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 31(2), pages 1-15, August.
    20. Jerry R. Skees & Barry J. Barnett, 1999. "Conceptual and Practical Considerations for Sharing Catastrophic/Systemic Risks," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 21(2), pages 424-441.
    21. Teague, Paul W. & Lee, John G., 1988. "Risk Efficient Perennial Crop Selection: A Motad Approach to Citrus Production," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 20(2), pages 145-152, December.
    22. Goodwin, Barry K. & Vandeveer, Monte & Deal, John, 2001. "The Federal Crop Insurance Program - An Empirical Analysis Of Regional Differences In Acreage Response And Participation," 2001 Annual meeting, August 5-8, Chicago, IL 20579, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
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    Keywords

    Risk and Uncertainty;

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