Budgetary and Producer Welfare Effects of Revenue Insurance, The
Legislation passed in 1996 changed the way the U.S. federal government acts to reduce risks faced by U.S. crop products. The authors compare the new, alternative forms of revenue insurance to the 1990 deficiency payment program and to a ''no-program'' alternative. They estimate the effects of the alternative polices on the acreage allocations of a representative farm, on the expected government cost, and on producer welfare. Simulation results indicate that a revenue insurance scheme that guarantees 75 percent of expected revenue to risk-averse produced could provide approximately the same level of benefits as the 1990 program, at as little as one-fourth the cost.
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- Julian M. Alston & Brian H. Hurd, 1990. "Some Neglected Social Costs of Government Spending in Farm Programs," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(1), pages 149-156.
- Bruce A. Babcock & David A. Hennessy, 1996.
"Input Demand under Yield and Revenue Insurance,"
American Journal of Agricultural Economics,
Agricultural and Applied Economics Association, vol. 78(2), pages 416-427.
- Bruce A. Babcock & Joseph A. Herriges, 1994. "Input Demand Under Yield and Revenue Insurance," Center for Agricultural and Rural Development (CARD) Publications 94-wp127, Center for Agricultural and Rural Development (CARD) at Iowa State University.
- Babcock, Bruce A. & Hennessy, David A., 1996. "Input Demand under Yield and Revenue Insurance," ISU General Staff Papers 199601010800001155, Iowa State University, Department of Economics.
- Babcock, Bruce A. & Hennessy, David A., 1996. "Input Demand Under Yield and Revenue Insurance," Staff General Research Papers Archive 794, Iowa State University, Department of Economics.
- Rothschild, Michael & Stiglitz, Joseph E., 1970. "Increasing risk: I. A definition," Journal of Economic Theory, Elsevier, vol. 2(3), pages 225-243, September.
- Vukina, Tomislav & Li, Dong-feng & Holthausen, Duncan M., 1996. "Hedging With Crop Yield Insurance Futures," 1996 Conference (40th), February 11-16, 1996, Melbourne, Australia 156579, Australian Agricultural and Resource Economics Society.
- Calum G. Turvey, 1992. "Contingent Claim Pricing Models Implied by Agricultural Stabilization and Insurance Policies," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 40(2), pages 183-198, July.
- Rulon D. Pope & Richard E. Just, 1991. "On Testing the Structure of Risk Preferences in Agricultural Supply Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(3), pages 743-748.
- Allan W. Gray & James W. Richardson & Jackie McClaskey, 1995. "Farm-Level Impacts of Revenue Assurance," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 17(2), pages 171-183.
- Tomislav Vukina & Dong-feng Li & Duncan M. Holthausen, 1996. "Hedging with Crop Yield Futures: A Mean-Variance Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(4), pages 1015-1025.
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