文章基本信息

标题：IMPLICATIONS OF CROP YIELD AND REVENUE INSURANCE FOR PRODUCER HEDGING
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作者：Coble, Keith H. ; Heifner, Richard G. ; Zuniga, Manuel 等
期刊名称：Journal of Food Distribution Research
印刷版ISSN：0047-245X
出版年度：2000
页码：432-452
出版社：Food Distribution Research Society
摘要：New types of crop insurance have expanded the tools from which crop producers may choose to manage risk. Little is known regarding how these products interact with futures and options. This analysis examines optimal futures and put ratios in the presence of four alternative insurance coverages. An analytical model investigates the comparative statics of the relationship between hedging and insurance. Additional numerical analysis is conducted which incorporates futures price, basis, and yield variability. Yield insurance is found to have a positive effect on hedging levels. Revenue insurance tends to result in slightly lower hedging demand than would occur given the same level of yield insurance coverage.