| Título: | Cooperative and Area Yield Insurance: A Theoretical Analysis |
| Autores: |
Pincheira, Pablo Zeuli, Kimberly A. |
| Fecha: |
2006-04-19 2007-03-07 2006-04-19 2007-03-07 2005 |
| Publicador: | AgEcon |
| Fuente: |
 |
| Tipo: | Conference Paper or Presentation |
| Tema: |
Risk and Uncertainty Agribusiness |
| Descripción: | The purpose of this paper it to theoretically investigate the potential benefits that arise from a cooperative selling a government subsidized area-yield contract (i.e., the Group Risk Plan). The indemnities in area-yield contracts are triggered by a geographically determined yield (e.g, a country-wide yield average) instead of the more conventional individual actual production history. Therefore, an area-yield contract would be appropriate for managing the cooperative's systemic throughput risk. The cooperative would also capture some of the substantial government subsidies that are normally given to a private insurance company. Our primary finding is that farmers should be indifferent when considering the decisions to purchase area-yield insurance from a private company or encompass that business in their cooperative. We derive this result from the specific case of costless insurance and assume a Pareto Optimal contract. Under these assumptions, the government subsidies that the cooperative would hope to capture are simply a net deduction in their premiums. In other words, the benefit they capture from the subsidies in the same when they purchase the insurance from an outside firm or internally. |
| Idioma: |
English en |
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