This paper seeks to characterize the factors that explain crop insurance participation. A stylized model of insurance demand, with a simple setup of one crop. CARA preferences, yield insurance, and PDfs for revenue and yeild with moment‐generating functions, provides a number of hypotheses...

The effectiveness of hedging drought risks with weather derivatives was investigated for rain‐fed grain maize production in Switzerland under current (1981‐2003) and projected future (2070‐2100) climatic conditions. Depending on location, hedging reduced the value‐at‐ (VaR) measure to...

It is usually unnecessary to define the output of an industry, but this is not the case with mental health services. Following Grossman's conception of health capital, the outputs of mental health care enter a household production function as a commodity vector. Considering the multiple and...