Premium subsidies and selection in the federal crop insurance program

被引：0
|
作者：
Yu, Jisang [1 ]
Perry, Edward. D. D. [1 ]
机构：
[1] Kansas State Univ, Dept Agr Econ, Manhattan, KS 66506 USA
来源：
JOURNAL OF AGRICULTURAL ECONOMICS | 2024年 / 75卷 / 01期
关键词：
adverse selection; agricultural policy; instrumental variables; loss-cost ratio; risk & uncertainty; ADVERSE SELECTION; ADVANTAGEOUS SELECTION; EMPIRICAL-ANALYSIS; DEMAND; ACTUARIAL; MARKETS; HETEROGENEITY; RATES;
D O I：
10.1111/1477-9552.12555
中图分类号：
F3 [农业经济];
学科分类号：
0202 ; 020205 ; 1203 ;
摘要：
Understanding how subsidies affect the selection of farms with different risk exposure into insurance products is key to evaluating the efficiency of government-supported insurance programs. We study the US crop insurance program, which is a major federally supported insurance program, to assess the impact of premium subsidies on the riskiness of the insured. By exploiting two waves of policy changes, we find that the average loss per insured liability falls as premium subsidies increase, which implies that crop producers with lower risk are more responsive to the price of insurance.
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页码：280 / 297
页数：18
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