Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103810
Authors: 
Osipenko, Maria
Shen, Zhiwei
Odening, Martin
Year of Publication: 
2014
Series/Report no.: 
SFB 649 Discussion Paper 2014-025
Abstract: 
In this paper we adapt a dynamic discrete choice model to examine the aggregated demand for single- and multi-year crop insurance contracts. We show that in a competitive insurance market with heterogeneous risk averse farmers, there is simultaneous demand for both insurance contracts. Moreover, the introduction of multi-year contracts enhances the market penetration of insurance products. Using U.S. corn yield data, we empirically assess the potential of multi-year crop insurance.
Subjects: 
multi-year insurance
index-based crop insurance
dynamic discrete choice model
JEL: 
D81
G22
Q14
Document Type: 
Working Paper

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