Abstract
The objective of this study is to evaluate farm, household, and financial characteristics of cash grain farmers' decisions of whether to purchase revenue insurance. Using farm-level data these characteristics were identified by estimating a logit model of revenue insurance purchase decisions by farm operators. Results indicate that farm operators with the ability to self-insure through accumulation of sufficient wealth reserves measured in terms of the ratio of debts-to-assets, operators with off-farm income, and participation in production and marketing contracts, are more likely to pursue these strategies as a substitute for federal revenue insurance programmes. Further, study finds that older and wealthy cash grain farmers are less likely to buy revenue insurance.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 149-159 |
| Number of pages | 11 |
| Journal | Applied Economics |
| Volume | 38 |
| Issue number | 2 |
| DOIs | |
| State | Published - Feb 10 2006 |
| Externally published | Yes |
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ASJC Scopus subject areas
- Economics and Econometrics
Cite this
Revenue insurance purchase decisions of farmers. / Mishra, Ashok; Goodwin, Barry K.
In: Applied Economics, Vol. 38, No. 2, 10.02.2006, p. 149-159.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Revenue insurance purchase decisions of farmers
AU - Mishra, Ashok
AU - Goodwin, Barry K.
PY - 2006/2/10
Y1 - 2006/2/10
N2 - The objective of this study is to evaluate farm, household, and financial characteristics of cash grain farmers' decisions of whether to purchase revenue insurance. Using farm-level data these characteristics were identified by estimating a logit model of revenue insurance purchase decisions by farm operators. Results indicate that farm operators with the ability to self-insure through accumulation of sufficient wealth reserves measured in terms of the ratio of debts-to-assets, operators with off-farm income, and participation in production and marketing contracts, are more likely to pursue these strategies as a substitute for federal revenue insurance programmes. Further, study finds that older and wealthy cash grain farmers are less likely to buy revenue insurance.
AB - The objective of this study is to evaluate farm, household, and financial characteristics of cash grain farmers' decisions of whether to purchase revenue insurance. Using farm-level data these characteristics were identified by estimating a logit model of revenue insurance purchase decisions by farm operators. Results indicate that farm operators with the ability to self-insure through accumulation of sufficient wealth reserves measured in terms of the ratio of debts-to-assets, operators with off-farm income, and participation in production and marketing contracts, are more likely to pursue these strategies as a substitute for federal revenue insurance programmes. Further, study finds that older and wealthy cash grain farmers are less likely to buy revenue insurance.
UR - http://www.scopus.com/inward/record.url?scp=33644858396&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=33644858396&partnerID=8YFLogxK
U2 - 10.1080/00036840500367724
DO - 10.1080/00036840500367724
M3 - Article
AN - SCOPUS:33644858396
VL - 38
SP - 149
EP - 159
JO - Applied Economics
JF - Applied Economics
SN - 0003-6846
IS - 2
ER -