This article examines the production risk effects and welfare implications of Bt corn adoption in the Philippines by specifically considering the impact of Bt on the mean, variance, and skewness of yields. Assessing the skewness effects of Bt provides further inferences about the downside risk...

Factors affecting the adoption of crop insurance, forward contracting, and spreading sales areanalyzed using multivariate and multinomial probit approaches that account for simultaneousadoption and/or correlation among the three risk management adoption decisions. Our empiricalresults suggest...

We review the implications of the 2007 Farm Bill for the risk management dimensions of U.S. agriculture and policy. Legislative proposals suggest significant changes in risk management policy, including the introduction of state or national revenue insurance. We also pursue an empirical analysis...

This article investigates how information from cotton yield monitors influences the perceptions of within-field yield variability of cotton producers. Using yield distribution modeling techniques and survey data from cotton producers in 11 southeastern states, we find that cotton farmers who...

The US crop insurance program previously used a simple average of equally weighted historical loss cost data to serve as the backbone for estimating crop insurance premium rates. This article develops a procedure for weighting the historical loss cost experience based on longer time-series...

This article examines the extent to which actual crop insurance indemnification behavior conforms to the theoretical predictions of two ex post moral hazard models costly state verification and costly state falsification. A nonparametric regression technique is used to estimate the crop...

This article examines farmers’ preferences for various risk management information sources. Our results suggest that information from risk management experts, in-depth materials studied on their own, and popular press outlets tend to be preferred and are ranked highly by producers. Using...

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...

The objective of this paper is to compare the accuracy of crop insurance rating methods based on historical liability and indemnity data (similar to the procedure currently used by the Risk Management Agency) and “yield distribution” approaches. Estimated rates are compared to “true”...

This paper determines whether the opportunity costs of share leasing and the share amounts of farmers/tenants affect the likelihood of submitting a prevented planting claim. Results from our probit analysis shows that lower opportunity costs of share leasing and higher farmer/tenant share amount...