Crop Revenue and Yield Insurance Demand: A Subjective Probability Approach

A multinomial logit is utilized to model the choice of whether to purchase yield or revenue insurance using subjectively elicited survey data. Our results indicate that the demand for crop insurance is inelastic (-0.40), consistent with most earlier yield elasticity estimates, but the elasticity for choices between yield and revenue insurance is found to be relatively more elastic (-0.88).

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Year of publication:	2008
Authors:	Shaik, Saleem ; Coble, Keith H. ; Knight, Thomas O. ; Baquet, Alan E. ; Patrick, George F.
Published in:	Journal of Agricultural and Applied Economics. - Southern Agricultural Economics Association - SAEA. - Vol. 40.2008, 03
Publisher:	Southern Agricultural Economics Association - SAEA
Subject:	crop insurance \| elasticities \| multinomial logit model \| revenue demand \| subjective elicitation \| survey \| Agribusiness \| Crop Production/Industries \| Demand and Price Analysis

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005513881