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EVALUATION OF RISK REDUCTIONS ASSOCIATED WITH MULTI-PERIOL CROP INSURANCE PRODUCTS

By Gary D. Schnitkey, Bruce J. Sherrick and Scott H. Irwin

Abstract

This research examines risk-return tradeoffs across a full range of crop insurance products and coverage levels. Results indicate that farm-level products reduce risk for low probability events, but that risk reductions often are not large for events that occur with more regularity. Risk reductions vary with yield variability; with counties that have higher yield variability also experiencing greater risk reductions through the use of crop insurance.Risk and Uncertainty,

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