The 2002 Food Security and Rural Investment (FSRI) Act introduced a price protection program called Counter Cyclical Payments (CCP) to major grain producers in the US. The CCP program is an addition to the Loan Deficiency Payment (LDP) and Direct Payment (DP) programs from the previous 1996...

This paper empirically examines the income risks for Pacific Northwest apple growers, both conventional and organic. Current yield based apple production insurance, the Growers Yield Certification (GYC), and hypothesized revenue based insurance are also examined for their risk management effect...

A utility maximization model is used to assess alternative risk management portfolios of Pacific Northwest non-irrigated grain producers using three rotational practices. Risk management tools include hedging with wheat futures, yield insurance, two revenue insurance products (with and without...

The linear two-moment mean-variance (MV) model has been widely used in finance and economic decision analysis as an approximation of Von Neumann-Morgenstern expected utility (EU) model. The introduction of third or higher moments not only can improve the accuracy of the approximation, but is...

Risk management strategies (market and insurance based) are evaluated for selected small grain producers in the Pacific Northwest using expected utility maximization. Equivalent variation (EV) compares alternative risk management portfolios to cash sales under specified restrictions and...