Recent and presumable future developments tend to increase the risks associated with farming activities. These include climate risks, which have always played an important role in farming. Weather‐based instruments can be valuable tools to reduce the risk associated with unfavourable climate...

Several criteria that produce rankings of risk management strategies are evaluated. The criteria considered are expected return, value at risk, the Sharpe ratio, the necessary condition for first‐degree stochastic dominance with a risk‐free asset, and the necessary condition for...

Changes within the financial services industry have raised concerns about the ability of agricultural banks to adequately fund local rural development. To address these concerns, the Gramm‐Leach‐Bliley Act of 1999 broadened agricultural bank access to Federal Home Loan Bank (FHLB) financing....

Due to the low crop insurance participation by grain growers in the Pacific Northwest, the performance of insurance programs and the futures market is assessed in this area. Revenue insurance, combined with the futures and government programs, is identified as the optimal risk management...

Off‐farm investment decisions of farm households are analyzed. Farm‐level data for a sample of Kansas farms observed from 1994 through 2000 are utilized. A system of censored dependent variable models is estimated to investigate the factors that influence the composition of farm...

Purpose – The purpose of this paper is to provide a big picture of the current context of Chinese economy, the government policies on agriculture, and the role of agricultural risks and risk management against this background. Design/methodology/approach – The new Chinese economic challenges...

Purpose – What copulas are, their estimation, and use is illustrated using a geographical diversification example. To accomplish this, dependencies between county-level yields are calculated for non-irrigated wheat, upland cotton, and sorghum using Pearson linear correlation and Kendall's tau....

Purpose – From the perspectives of the probable replacement of the national calamity funds by multi-peril grassland insurance, the purpose of this paper is to estimate demand for grassland production insurance. Design/methodology/approach – A discrete stochastic programming model with a...

Purpose – The purpose of this paper is to illustrate the benefits of utilizing teams of personal and financial consultants to work with farm families in New York State on issues affecting farm business performance. Design/methodology/approach – Program experience in implementing an...