Given the size and variability of U.S. federal outlays on agricultural support programs, alternative means of structuring and implementing the programs are frequently considered, particularly through private sector risk management institutions such as futures and option markets. The Option Pilot...

Government programs for agricultural commodities affect planting decisions and farm income for many producers. Many proposals to reduce federal expenditures are being considered for reform in the 1995 Farm Bill. In order to determine the effect of these proposals on both farmers and government,...