Interest is growing in weather insurance within the agricultural sector but its use has been limited by the difficulty in defining the appropriate weather event and the lack of agreement on how to price the product. In this paper we develop a new insurance pricing method for weather insurance...

Weather insurance within the agricultural sector has been limited by the difficulty in defining the appropriate weather event and in pricing the product. We develop a new pricing method for weather insurance under situations where returns depend not only on the occurrence of the weather event,...

The objective of the 1997 Kyoto agreement was to limit greenhouse gas (GHG) emissions among signatory countries and thereby slow global warming. Under the agreement, Canada has committed itself to reduce GHGs over the next decade by 6 percent from estimated 1990 levels. Debate has now begun on...

This paper argues that under a commercial export milk program the market value of quota will be determined by the spread between the domestic market price and the export price rather than the conventional wisdom that it is determined by the spread between the domestic milk price and the marginal...

The extent to which agricultural support programs have been capitalized into farmland prices has been examined in this study. A present value land price model was developed which decomposes returns to the land base into its two possible sources (farm production and government subsidies) and...

This article examines farm operating risks and cash-rent determination through the use of the efficient set mathematics. The efficient set mathematics proves to be a pragmatic approach to characterizing operating risks, and the relationships between operating risks and cash-rent determination....