Insurance Premium Formulation for Agricultural Commodity Prices
نویسندگان
چکیده
This research develops the appropriate formula to determine insurance premiums on agricultural commodity prices that provide coverage policyholders for losses caused by falling prices. The price component is assumed follow Brownian Geometric motion in determining So, through Ito process, a target can be selected and used as reference whether claim made or not at harvest time. approach of Black-Scholes model construct an due decrease from expected price. A simulation study carried out using daily data red chili commodities Jambi province 2020 with several assumptions based literature studies farmers’ common habits Jambi. results indicate average return -0.001069649, standard deviation 0.07297269. Thus, estimated value profit rate volatility Furthermore, value, premium one-planting period area one hectare Rp. 1,527,088.Keywords: agriculture insurance; model; European option; process. AbstrakPenelitian ini mengembangkan yang sesuai untuk menetapkan harga premi asuransi komoditas hasil pertanian memberikan pertanggungan kepada nasabah atas kerugian disebabkan oleh turunnya harga. Dalam menentukan pertanian, komponen diasumsikan bergerak mengikuti Gerak Geometrik. Sehingga melalui proses dapat ditentukan akan dijadikan acuan klaim atau tidaknya pada saat panen. Pendekatan digunakan mengkonstruksi karena dari diharapkan. Simulasi dilakukan menggunakan harian cabe merah di Provinsi tahun dengan beberapa asumsi dibangun berdasarkan kajian literatur dan kebiasaan umum petani Hasil simulasi menunjukkan bahwa rata-rata adalah -0,001069649 standar deviasi 0,07297269. diperoleh nilai estimasi tingkat keuntungan diinginkan sebesar -0,001069649, volatilitas 0,07297269 . Selanjutnya, 1 periode tanam luas lahan hektar 1.527.088.Kata Kunci: pertanian; Black-Scholes; opsi eropa; Ito. 2020MSC: 62P05
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ژورنال
عنوان ژورنال: InPrime Journal
سال: 2022
ISSN: ['2716-2478']
DOI: https://doi.org/10.15408/inprime.v4i2.26238