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Evaluating the effects of asymmetric information in a model of crop insurance

Evaluating the effects of asymmetric information in a model of crop insurance Asymmetric information in the form of moral hazard and adverse selection can result in sizable program costs for governmentprovided crop insurance plans. We present a methodology and illustrative simulations to show how these two types of information problems interact in a way to create program costs for the providers of crop insurance. Our methodology allows us to ascertain the relative contributions to program costs of these two sources of asymmetric information. The exercise is useful in pointing out directions for future study seeking ways to improve the design of crop insurance plans. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Agricultural Finance Review Emerald Publishing

Evaluating the effects of asymmetric information in a model of crop insurance

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0002-1466
DOI
10.1108/00214660780001212
Publisher site
See Article on Publisher Site

Abstract

Asymmetric information in the form of moral hazard and adverse selection can result in sizable program costs for governmentprovided crop insurance plans. We present a methodology and illustrative simulations to show how these two types of information problems interact in a way to create program costs for the providers of crop insurance. Our methodology allows us to ascertain the relative contributions to program costs of these two sources of asymmetric information. The exercise is useful in pointing out directions for future study seeking ways to improve the design of crop insurance plans.

Journal

Agricultural Finance ReviewEmerald Publishing

Published: Nov 1, 2007

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