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Farm risk management between normal business risk and climatic/market shocks

Author

Listed:
  • Jean Cordier

    (SMART-LERECO - Structures et Marché Agricoles, Ressources et Territoires - INRA - Institut National de la Recherche Agronomique - AGROCAMPUS OUEST)

Abstract

Farm risk management for income stabilization is on-going issue. An applied work has been performed to measure farm risk using a stochastic model. Risk management tools, with symmetric as well as asymmetric impacts, are then tested and compared through ad hoc statistics. Normal farm business risk can be efficiently managed using a precautionary saving provision. Farm revenue insurance is found as the most efficient asymmetric tool for dealing with climatic and market shocks. The linkage between these complementary tools can be adjusted upon market environment.

Suggested Citation

  • Jean Cordier, 2008. "Farm risk management between normal business risk and climatic/market shocks," Post-Print hal-00729137, HAL.
    • Handle: RePEc:hal:journl:hal-00729137
    Note: View the original document on HAL open archive server: https://institut-agro-rennes-angers.hal.science/hal-00729137v1
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