Crop insurance and disaster assistance designs for wheat and grain sorghum

Jeffery R. Williams; Gordon L. Carriker; G. Art Barnaby; Jayson K. Harper

doi:10.2307/1242928

Crop insurance and disaster assistance designs for wheat and grain sorghum

Jeffery R. Williams, Gordon L. Carriker, G. Art Barnaby, Jayson K. Harper

Agricultural Economics, Sociology and Education

Research output: Contribution to journal › Article › peer-review

14 Scopus citations

Abstract

This study compares the effectiveness of two crop insurance and two disaster assistance program designs used in conjunction with a government commodity program and a linked crop insurance/government commodity program design. Stochastic dominance analysis of farm-level net return distributions is used to select the preferred design(s). The results indicate that the disaster assistance programs are preferred over the alternatives. The results also suggest that individual crop insurance is preferred to area crop insurance. A subsidy is required for risk-averse managers to prefer area crop insurance to individual crop insurance.

Original language	English (US)
Pages (from-to)	435-447
Number of pages	13
Journal	American Journal of Agricultural Economics
Volume	75
Issue number	2
DOIs	https://doi.org/10.2307/1242928
State	Published - May 1993

All Science Journal Classification (ASJC) codes

Agricultural and Biological Sciences (miscellaneous)
Economics and Econometrics

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10.2307/1242928

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title = "Crop insurance and disaster assistance designs for wheat and grain sorghum",

abstract = "This study compares the effectiveness of two crop insurance and two disaster assistance program designs used in conjunction with a government commodity program and a linked crop insurance/government commodity program design. Stochastic dominance analysis of farm-level net return distributions is used to select the preferred design(s). The results indicate that the disaster assistance programs are preferred over the alternatives. The results also suggest that individual crop insurance is preferred to area crop insurance. A subsidy is required for risk-averse managers to prefer area crop insurance to individual crop insurance.",

author = "Williams, {Jeffery R.} and Carriker, {Gordon L.} and Barnaby, {G. Art} and Harper, {Jayson K.}",

note = "Funding Information: The authors are professor, assistant professor, and professor, Department of Agricultural Economics, Kansas State University; and assistant professor, Department of Agricultural Economics and Rural Sociology, The Pennsylvania State University. This study was partially funded under a special grant from the Federal Crop Insurance Corporation in cooperation with the Federal Extension Service. Senior authorship is shared by the authors.",

year = "1993",

month = may,

doi = "10.2307/1242928",

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AU - Williams, Jeffery R.

AU - Carriker, Gordon L.

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AU - Harper, Jayson K.

N1 - Funding Information: The authors are professor, assistant professor, and professor, Department of Agricultural Economics, Kansas State University; and assistant professor, Department of Agricultural Economics and Rural Sociology, The Pennsylvania State University. This study was partially funded under a special grant from the Federal Crop Insurance Corporation in cooperation with the Federal Extension Service. Senior authorship is shared by the authors.

PY - 1993/5

Y1 - 1993/5

N2 - This study compares the effectiveness of two crop insurance and two disaster assistance program designs used in conjunction with a government commodity program and a linked crop insurance/government commodity program design. Stochastic dominance analysis of farm-level net return distributions is used to select the preferred design(s). The results indicate that the disaster assistance programs are preferred over the alternatives. The results also suggest that individual crop insurance is preferred to area crop insurance. A subsidy is required for risk-averse managers to prefer area crop insurance to individual crop insurance.

AB - This study compares the effectiveness of two crop insurance and two disaster assistance program designs used in conjunction with a government commodity program and a linked crop insurance/government commodity program design. Stochastic dominance analysis of farm-level net return distributions is used to select the preferred design(s). The results indicate that the disaster assistance programs are preferred over the alternatives. The results also suggest that individual crop insurance is preferred to area crop insurance. A subsidy is required for risk-averse managers to prefer area crop insurance to individual crop insurance.

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Crop insurance and disaster assistance designs for wheat and grain sorghum

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