Crop insurance and disaster assistance designs for wheat and grain sorghum

Jeffery R. Williams, Gordon L. Carriker, G. Art Barnaby, Jayson K. Harper

Research output: Contribution to journalArticlepeer-review

15 Scopus citations

Abstract

This study compares the effectiveness of two crop insurance and two disaster assistance program designs used in conjunction with a government commodity program and a linked crop insurance/government commodity program design. Stochastic dominance analysis of farm-level net return distributions is used to select the preferred design(s). The results indicate that the disaster assistance programs are preferred over the alternatives. The results also suggest that individual crop insurance is preferred to area crop insurance. A subsidy is required for risk-averse managers to prefer area crop insurance to individual crop insurance.

Original languageEnglish (US)
Pages (from-to)435-447
Number of pages13
JournalAmerican Journal of Agricultural Economics
Volume75
Issue number2
DOIs
StatePublished - May 1993

All Science Journal Classification (ASJC) codes

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics and Econometrics

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