An experiment was conducted to investigate the interaction between consumers’ past eating behaviors, risk perceptions and future information processing procedure. In the study, participants were required to choose whether or not to eat chicken that was potentially be tainted with Avian...

The influence of climate variability on agricultural production and financial risks faced by an individual or an institution has been the center of the public discussion in the recent years. The changing weather patterns and environmental conditions could cause substantial unpredicted economic...

Crop yield and revenue insurance products with coverage based on actual production history(APH) yields dominate the U.S. Federal Crop Insurance Program. The APH yield, which plays acritical role in determining the coverage offered to producers, is based on a small sample ofhistorical yields for...

Vaccines against several common foodborne pathogens are being developed and could substantially alter the policy tools available to address foodborne illness. However, little analysis is available to suggest how social welfare would be affected by these new vaccines. To address this void, we use...

Rankings of different risk management portfolios including Average Crop Revenue Election (ACRE), traditional government payment programs, crop insurance and hedging in futures; and optimal choices of insurance coverage levels and hedge ratios are evaluated for a representative central Indiana...

Traditionally, disaster assistance was available on an ad hoc basis, but the 2008 Farm Act provides a standing disaster assistance program known as Supplemental Revenue Assistance (SURE). This paper introduces a theory of nested insurance to evaluate the impact on of SURE on intensification,...

Replaced with revised version of paper 07/29/10.

With the advent of the WTO’s Doha Development Agenda, as well as the MillenniumDevelopment Goals aiming to reduce poverty by 50 percent by 2015, poverty impacts oftrade reforms have attracted increasing attention. This has been particularly true ofagricultural trade reform due to the...

In this article we develop a general conceptual model of a property-owner’s decision to implement actions to protect his property against wildfire threat. Assuming a prospective-utility maximizing decision maker, we derive a system of demand functions for fire-safe actions that characterizes...

The spread of invasive annual grasses and resulting escalation of wildfire frequency and severity pose a significant and growing threat to the economic and ecological viability of the rangelands in the Great Basin. While private ranchers have the option to limit the severity of wildfires through...