Considerable disagreement exists about the most appropriate characterization of farm-level yield distributions. Yet, the economic importance of alternative yield distribution specifications on crop insurance valuation has not been well documented. The results of this study demonstrate that large...

Farmers' decisions to purchase crop insurance and their choices among alternative products are analyzed using a two-stage estimation procedure. The influences of risk perceptions, competing risk management options, as well structural and demographic differences are evaluated. The likelihood for...

Utilizing survey data from corn and soybean farmers in the Midwest, this study assesses the relative importance of different features of crop insurance products. Conjoint analysis results indicate that farmers' preferences for flexibility dominate both type of insurance and coverage level....

Although few in number, studies consistently find that price explains little, if any, of the variation in profit across farms. This contrasts with farmers' opinions regarding the importance of price, as well as the use of price supports as a primary policy instrument. Using farm level data from...

Many yield modeling approaches have been developed in attempts to provide accurate characterizations of farm-level yield distributions due to the importance of yield uncertainty in crop insurance design and rating, and for managing farm-level risk. Competing existing models of crop yields...

Numerous theoretical approaches to farmland leasing contract choice have been developed with little consistent empirical support, particularly for the Corn Belt. A unique theoretical approach to explaining farmers' lease preferences is presented, using a combination of transaction cost economics...

Farmers' decisions to purchase crop insurance and their choices among alternative products are analyzed using a two-stage estimation procedure. The influences of risk perceptions, competing risk management options, as well structural and demographic differences are evaluated. The likelihood for...