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Jock Anderson (1975)
Programming For Efficient Planning Against Non‐Normal RiskAustralian Journal of Agricultural and Resource Economics, 19
K. Campbell (1971)
A WHEAT POLICY FOR THE SEVENTIESAustralian Journal of Agricultural and Resource Economics, 15
T. Ryan (1974)
A NOTE ON VICTORIAN WHEAT YIELD DISTRIBUTIONSAustralian Journal of Agricultural and Resource Economics, 18
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.
The Australian Journal of Agricultural Resource Economics – Wiley
Published: Aug 1, 1977
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