A mail survey is used to examine the consistency of alternative risk preference elicitation procedures using five commonly used methods. These elicitation procedures have been used in previous studies to characterise risk preference. Results show little consistency across procedures, supporting...

The objective of this research is to incorporate the relationship between forage yields and rainfall levels to find optimal weights on insurance intervals using Pasture, Rangeland, and Forage Rainfall Index (PRF-RI) insurance. Unlike earlier models, actuarial fairness of the insurance product is...

Retained ownership of steer calves is an investment decision for cow/calf producers. Data collected over a three-year period on 845 steer calves reveals that retaining ownership of steer calves is, on average, profitable. Systematic and unsystematic risks associated with retaining ownership of...

Incomplete information generates uncertainty for market participants in the slaughter-cattle market. Buyer and seller behavior in the presence of that uncertainty is examined. Statistically significant risk premiums are charged by packers when buying slaughter cattle on either a live- or...

Rotational grazing has been promoted as a best management practice with environmental benefits and associated higher revenue. Its adoption rate has been relatively low. This study investigates the role of uncertainty in the adoption of rotational grazing with a cost-share by cattle producers....

Personal interviews were conducted with 52 beef cattle producers in Louisiana to determine their preferences and purchase decisions for livestock revenue insurance. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. The...