When Less Is More: On the Use of Historical Yield Data with Application to Rating Area Crop Insurance Contracts
نویسندگان
چکیده
منابع مشابه
Spatio-temporal Modeling of Agricultural Yield Data with an Application to Pricing Crop Insurance Contracts.
This article presents a statistical model of agricultural yield data based on a set of hierarchical Bayesian models that allows joint modeling of temporal and spatial autocorrelation. This method captures a comprehensive range of the various uncertainties involved in predicting crop insurance premium rates as opposed to the more traditional ad hoc, two-stage methods that are typically based on ...
متن کاملBayesian Model Averaging, Mixture Models, and Rating Crop Insurance Contracts
The Agricultural Act of 2014 solidified insurance as the cornerstone of U.S. agricultural policy. The Congressional Budget Office (2014) estimates this Act will increase spending on agricultural insurance programs by $5.7 billion to a total of $89.8 billion over the next decade. In 2014, total government liabilities associated with the crop insurance program exceeded $108.5 billion. In light of...
متن کاملInformation in Insurance Markets: When Less is More
Many studies show that asymmetric information exists in insurance markets, yet there is little consensus on the e↵ectiveness of interventions in these markets. This article provides empirical evidence that improving information about risk is not always welfare-improving. I show how the theoretical e↵ect of risk-rating can depend on whether the market is adverselyor advantageously-selected. I th...
متن کاملa study on insurer solvency by panel data model: the case of iranian insurance market
the aim of this thesis is an approach for assessing insurer’s solvency for iranian insurance companies. we use of economic data with both time series and cross-sectional variation, thus by using the panel data model will survey the insurer solvency.
When Less is More
engine and airframe manufacturers for decades have cited the direct relationship between engine wear and high exhaust gas temperature (EGT) in recommending that operators use less than maximum takeoff thrust whenever possible. While the cost benefits of reduced-thrust takeoffs are thoroughly documented, the safety benefits are not as well understood. Thus, there is a common perception that usin...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Agricultural and Applied Economics
سال: 2019
ISSN: 1074-0708,2056-7405
DOI: 10.1017/aae.2019.40