Purpose – The purpose of this paper is to use simulation analysis to assess farmer choice between crop insurance and supplemental revenue options as proposed during development of the Agricultural Act of 2014. Design/methodology/approach -The certainty equivalent of wealth is used to rank farm...

Purpose: Regional differences in crop insurance uptake have persisted over time. To partly explain this phenomenon, the purpose of this paper is to propose and evaluate a budget constraint (heuristic) effect within the standard expected utility theory (EUT) framework through simulation methods....

Purpose: The article examines the impact of policy change on enterprise unit subsidies that took place in 2009 on the quantity demanded for crop insurance. Design/methodology/approach: The analysis covers corn, soybeans, and wheat that are grown in six economic regions and uses various measures...