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...

Forward pricing behavior of random samples of Indiana, Nebraska, and Mississippi crop producers was analyzed using Heckman’s two-step limited information maximum likelihood estimation procedure. Producers who forward priced during the 1995-1998 period generally expected to forward price...

Risk management education has been a focus of U.S. farm policy since 1996. In support of significant ongoing United States Department of Agriculture (USDA) educational efforts, this study examines agricultural producers’ educational needs and interests. Data obtained through a survey of...

We study the relationship between the off-farm labor decision and the limited-resource farmers’ and spouses’ off-farm experience, education, and sources of income. We found that farmers’ and spouses’ off-farm experience and wages are significant factors in explaining...

Hog producers in Indiana and Nebraska were surveyed about sources of risk, effectiveness of risk management strategies, and prior participation in and desire for additional risk management education. Ownership of hogs by the producer, size of the operation, and age did have significant effects...

This paper examines the effects of optional subdivision on APHP losses for wheat, corn, and soybeans. Thirty-seven state/crop programs are analyzed and the implications of the results are discussed in relation to newly developed crop and revenue insurance programs. The results illustrate the...

This study examines U.S. crop producers’ perceptions of climate change, its effects on crop agriculture, and likely ways farmers would adapt to weather extremes. Based on a survey of crop producers in four states, we find that a significant proportion of farmers do not perceive that...

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...

This study evaluates econometrically the effect of government support to agriculture on a measure of the affordability of food in 10 Organization for Economic Cooperation and Development (OECD) countries. The panel model we construct specifically utilizes two values calculated by the OECD:...

A dynamic-stochastic model is developed to evaluate preferences among alternative countercyclical payment programs for representative farms producing corn or soybeans in Iowa and cotton or soybeans in Mississippi. Countercyclical payment programs are found to not necessarily be preferred to...