This is a revised copy of Staff Paper 2000-48.

The vast majority of previous studies on farmers' optimal risk management behavior have used static models and on the most part ignored use of borrowing and lending as an alternative method of managing risk In this paper we develop a stylized multi-period risk management model for a risk averse...

Participation in federal crop insurance programs has been encouraged through premium subsidies. The current subsidy depends on contract features as well as coverage levels. This type of subsidy rule causes farmers to choose contract designs and coverages that are not efficient for managing risk,...

The vast majority of previous studies on farmers' optimal risk management behavior have used static models and on the most part ignored use of borrowing and lending as an alternative method of managing risk In this paper we develop a stylized multi-period risk management model for a risk averse...

The performance of individual farm yield and area yield crop insurance programs is evaluated for a representative Iowa corn farm using numerical optimization of expected utility and simulation techniques. Several different contract design features are studied, including the nature of the yield...

A framework which permits estimation of economically optimal stocking rates for alternative economic parameters and alfalfa forage availability was developed and applied to a controlled grazing experiment conducted with Holstein steers (243 kg) placed on direct seeded alfalfa pastures in Central...

This bulletin represents a tool that can help producers, consultants, educators, and agribusinesses working with producers estimate costs of production and expected profit based on "typical" celery management strategies found in southwestern Michigan. The budget included in this bulletin will...

This bulletin represents a tool that can help producers, consultants, educators, and agribusinesses working with producers estimate costs of production and expected profit based on "typical" sweet bell pepper management strategies found in Macomb County, Michigan. The tools and techniques these...