A bioeconomic model of reservoir aquaculture in northern Vietnam is used toinvestigate the impacts of price and yield risk on the level, variability and skewness ofexpected net revenue and utility. Prices and yields are assumed to follow lognormaland beta distributions, respectively. Net revenue...

This paper develops methods to quantify weather derivatives and yield index insurance. These are exotic options that differ from financial options in several ways. The underlying random variable is not a price but a quantity such as millimeters of rainfall. Instead of option "pricing", a method...