A two-stage simultaneous equation is utilized to model the choice of whether to purchase insurance and the choice of whether to purchase yield or revenue insurance using subjectively elicited survey data. Our results show an elasticity of demand for crop insurance that remains largely unchanged...

Simulation-optimization techniques are employed to analyze changes in farmland control arrangements as a result of using different constructs of intertemporal risk behavior. Risk behavior based on constant absolute risk aversion (CARA) and constant relative risk aversion (CRRA) mean-standard...

The term "cheap food policy" has frequently been used as a descriptor for U.S. commodity programs by those who contend these payments to farmers ultimately result in lower food costs for consumers. More recently, farm policy has been criticized for contributing to the obesity problem in the U.S....