Abstract
This research examines factors influencing the adoption of crop and revenue insurance. This is accomplished by estimating a multinomial logit model of insurance choices facing U.S. farmers. Results indicate significant differences in the probabilities of adoption of each insurance plan. The levels of selected explanatory variables, such as operator’s education level, debt-to-asset ratio, offfarm income, soil productivity, participation in production and marketing contracts, and type of farm ownership, appear to be the determinants of the probability of having adopted each insurance plan.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 143-155 |
| Number of pages | 13 |
| Journal | Agricultural Finance Review |
| Volume | 63 |
| Issue number | 2 |
| State | Published - Nov 1 2003 |
| Externally published | Yes |
Keywords
- Adoption
- Crop insurance
- Multinomial logit
- Revenue insurance
- Stratified data
ASJC Scopus subject areas
- Finance
- Economics and Econometrics
- Agricultural and Biological Sciences (miscellaneous)
- Strategy and Management