We review the implications of the 2007 Farm Bill for the risk management dimensions of U.S. agriculture and policy. Legislative proposals suggest significant changes in risk management policy, including the introduction of state or national revenue insurance. We also pursue an empirical analysis...

This paper analyzes the effect of the ACRE program adopted in the final version of the 2007 Farm Bill on the risk-reducing effectiveness of insurance products. To the best of our knowledge this is a first attempt to analyze the effect of the ACRE program on the risk management decisions of crop...

Factors affecting the adoption of crop insurance, forward contracting, and spreading sales are analyzed using multivariate and multinomial probit approaches that account for simultaneous adoption and/or correlation among the three risk management adoption decisions. Our empirical results suggest...

Systemic weather risk is a major obstacle for the formation of private (nonsubsidized) crop insurance. This paper explores the possibility of spatial diversification of insurance by estimating the joint occurrence of unfavorable weather conditions in different locations. For that purpose copula...

This research investigates the potential effects of the row crop provisions of the standing disaster assistance program (SURE) in the 2008 Farm Bill. Results suggest little impact on producer crop insurance purchase decisions, though the program does seem to provide an incentive for mid-level...

This paper investigates the relationship between weather events and agricultural risks. Specific event risks are defined by outcomes related to a specific event such as low temperature and rainfall. Using Ontario data this paper describes specific events and shows how these specific events can...

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,...

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,...

The U.S. Geological Survey has determined that irrigation in Arkansas’ Delta is unsustainable. This study examines how irrigation restrictions would affect county net returns to cropproduction. It also considers the effect of planting less water-intensive bioenergycrops—switchgrass and...

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