Big assumptions for small samples in crop insurance

Ashley Elaine Hungerford; Barry Goodwin

doi:10.1108/AFR-09-2014-0025

Treesearch

Big assumptions for small samples in crop insurance

Formally Refereed

Authors:

Ashley Elaine Hungerford, Barry Goodwin

Year:

2014

Type:

Scientific Journal

Station:

Southern Research Station

DOI:

https://doi.org/10.1108/AFR-09-2014-0025

Source:

Emerald Group Publishing Limited

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Download (PDF 321 KB): https://research.fs.usda.gov/download/treesearch/48069.pdf

Abstract

The purpose of this paper is to investigate the effects of crop insurance premiums being determined by small samples of yields that are spatially correlated. If spatial autocorrelation and small sample size are not properly accounted for in premium ratings, the premium rates may inaccurately reflect the risk of a loss.

Keywords

Crop insurance, Bootstrap, Copula, Spatial autocorrelation, Systemic risk, Yield distribution

Citation

Hungerford, Ashley Elaine; Goodwin, Barry. 2014. Big assumptions for small samples in crop insurance. Emerald Group Publishing Limited Vol. 74, Issue 4, p. 477-491.