An experimental store was created to evaluate initial demand for locally-produced and guaranteed tender steak products as a more realistic alternative to contingent valuation (CV) and dichotomous-choice experimental methods. Strengths of the approach are incentive compatibility, a realistic...

Weather-based contingent claims typically rely on a cumulative index of the weather variable. Frequently, the index is weighted to reflect the importance of timing in a weather-production relationship. This article reviews alternative optimization methods and apply criteria for selecting among...

Economic analysis of weather risk often depends on accurate assessment of the probability (P) of tail quantiles (Q). Extreme value theory can provide a promising estimation of the tail part risk and this paper intends to apply the extreme value model to estimate the tail risk on India excess...

This paper provides a theoretical analysis for the optimal portfolio of weather index and individual crop insurance in farm level under mean-variance framework and stresses the impacts of risk aversion level, transaction cost, and basis risk. An empirical application of corn farms in Todd county...

This paper envisions the national weather index as an efficient instrument to hedge the agricultural risk. The theoretical framework is established based on the partition of risk and the cost minimization. The Morocco case was applied and the result shows that the risk can be reduced to a larger...

This study makes use of data on wheat production in the Punjab of Pakistan from 1979 to 1985 to 1) examine patterns of varietal diversity in farmers' fields both at the regional and district levels and 2) identify how and in what ways genetic resources have contributed to wheat productivity and...

Markets for transferring catastrophic risk in agriculture are woefully lacking in developing countries. Even in developed countries, markets for transferring the risk of crop losses caused by natural hazards generally exist only with large government subsidies. However, such subsidies can be...

“Multifunctionality†emphasizes the benefit externality properties of nonfood products that coincide with agricultural commodity production, some of which also have public-good properties. However, determining the willingness to pay for local benefit externalities is seen as necessary...

This paper presents the results of a survey about policy preferences collected from agricultural economists at an EAAE Seminar on rural development policy experiences. It documents the diversity in rural development problems and favored tactics across Europe.