This paper investigates the farm level impacts of multiple peril yield and revenue insurance in an expected value-variance framework. The analysis is conducted using stochastic simulation jointly with numerical optimisation. Simulation is used to compute the means and variances of revenues as...

Although risk management in farming is a well-documented subject in scientific literature, this same literature is usually used only by other scientist and is not aiding individual farmers in their management. Risk perception and risk attitude are well described determinants of risk behaviour...

The paper compares the risk coping potential of insurances that are based on indices derived from weather (rainfall and temperature) data as well as from crop model and remote sensing analyses. Corresponding indices were computed for the case of wheat production in the Aleppo region of northern...

This paper analyzes the impact of CAP financial assistance on crop biodiversity under uncertainty. A stochastic production function is employed and estimated to assess whether risk-averse farmers hedge risk by diversifying their portfolio of crops, thus increasing crop biodiversity. The model is...

The aim of this paper is to propose an analytical framework to explore farmers’ vaccination decisions against endemic animal diseases. First, a theoretical model is developed to highlight how the characteristics of the vaccine influence the farmer’s vaccination decisions over time and the...

Risk management in agriculture has been implemented probably as long as agriculture exists. One of the factors why researchers and policymakers recently are more interested in farm risk management is the vulnerability farmers face towards extreme events (EWE) linked to climate change. This...

This study analyses numerically an animal disease insurance scheme and how it could be operationalized. We focus on animal producer’s incentives to choose an insurance policy and on the feasibility of the insurance system as a whole. We develop a simple simulation model where the producer...

The biological nature of agricultural production processes induce a higher degree of uncertainty surrounding the economic performance of farm enterprises. This has contributed to the development and acceptance of forms of public intervention aimed at reducing income variability that have no...

The food industry is currently facing huge structural changes, such as growing concentration ratios and degrees of internationalization and as well as the reorganizations of food supply chains. Such developments do not only contribute to growing market risks but also require strategic...

Traceability and labelling are required by European regulation for food produced from GMOs. For this regulation one of the main advantages of traceability consists in providing information that should allow the precise withdrawal of products from the production process. This paper tests this...