Agricultural economists have for many decades concerned ourselves with gaining an understanding of individual behavior when confronted with risk, and developing tools to address decision-making under risk. This area of research has recently gained renewed attention for a variety of reasons. This...

A growing literature suggests that in low-income countries, households with few assets can be trapped in chronic poverty. This article reviews relevant threads of the poverty traps literature to motivate a description of the opportunities presented by innovative index-based risk transfer...

Producer revenue is simultaneously simulated for several hundred county-specific representative farms. The effects of current and alternative commodity programs are analyzed. In particular, two variations of revenue-triggered programs similar to plans proposed by the National Corn Growers...