WEATHER INSURANCE TO PROTECT SPECIALTY CROPS AGAINST COSTS OF IRRIGATION IN DROUGHT YEARS

Abstract

The purpose of this research is to develop a rainfall insurance product to insure irrigation costs applied to NAP crops, and to compare the efficacy of this insurance on a dollar basis relative to conventional crop insurance. An economic model is developed that illustrates the relationship between rainfall, crop yields, costs of irrigation and profits.Resource /Energy Economics and Policy, Risk and Uncertainty,