This research develops a mixture regression model that is shown to have advantages over theclassical Tobit model in model fit and predictive tests when data are generated from a two stepprocess. Additionally, the model is shown to allow for flexibility in distributional assumptions while nesting...

The purpose of this study is to evaluate the risks faced by fed cattle producers. With the development of livestock insurance programs as part of the Agricultural Risk Protection Act of 2000, a thorough investigation into the probabilistic measures of individual risk factors is needed. This...

Cattle feeding enterprises operate amid variability originating in prices and production. Thisresearch explicitly models yield risks related to cattle feeding by relating the mean and varianceof yield performance factors to observable conditioning variables. The results demonstratethat pen...

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...

Purpose – The purpose of this paper is to examine the spatial components of producer heterogeneity in crop insurance product selection among US corn producers and identifies neighborhood spillover or agent marketing effects in these decisions. Design/methodology/approach – County‐level...