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DISTRIBUTIONS OF INDEMNITIES FOR CROP‐INSURANCE PLANS: WITH APPLICATION TO GRAIN CROPS IN NEW SOUTH WALES

DISTRIBUTIONS OF INDEMNITIES FOR CROP‐INSURANCE PLANS: WITH APPLICATION TO GRAIN CROPS IN NEW... A review of crop‐insurance schemes is followed by a discussion of a guaranteed‐yield, crop‐insurance plan. General formulae for the distribution function and mathematical expectation of indemnities for the insurance plan are presented in terms of the distribution of crop yields. Three special cases are considered in which the original yields, the square root of yields, and the logarithm of yields are normally distributed. The insurance plan is applied on a regional basis for wheat and sorghum production in N.S.W. Given distributional information on the crops obtained from a simulation model, expected indemnities are calculated for four different insurance plans. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Australian Journal of Agricultural Resource Economics Wiley

DISTRIBUTIONS OF INDEMNITIES FOR CROP‐INSURANCE PLANS: WITH APPLICATION TO GRAIN CROPS IN NEW SOUTH WALES

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References (3)

Publisher
Wiley
Copyright
Copyright © 1977 Wiley Subscription Services, Inc., A Wiley Company
ISSN
1364-985X
eISSN
1467-8489
DOI
10.1111/j.1467-8489.1977.tb00195.x
Publisher site
See Article on Publisher Site

Abstract

A review of crop‐insurance schemes is followed by a discussion of a guaranteed‐yield, crop‐insurance plan. General formulae for the distribution function and mathematical expectation of indemnities for the insurance plan are presented in terms of the distribution of crop yields. Three special cases are considered in which the original yields, the square root of yields, and the logarithm of yields are normally distributed. The insurance plan is applied on a regional basis for wheat and sorghum production in N.S.W. Given distributional information on the crops obtained from a simulation model, expected indemnities are calculated for four different insurance plans.

Journal

The Australian Journal of Agricultural Resource EconomicsWiley

Published: Aug 1, 1977

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