Participation patterns of the rainfall index insurance for pasture, rangeland and forage programme

<?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.loc.gov/MARC21/slim http://www.loc.gov/standards/marcxml/schema/MARC21slim.xsd">
  <record>
    <leader>00000cab a2200000   4500</leader>
    <controlfield tag="001">MAP20200005025</controlfield>
    <controlfield tag="003">MAP</controlfield>
    <controlfield tag="005">20220911211257.0</controlfield>
    <controlfield tag="008">200219e20200101usa|||p      |0|||b|eng d</controlfield>
    <datafield tag="040" ind1=" " ind2=" ">
      <subfield code="a">MAP</subfield>
      <subfield code="b">eng</subfield>
      <subfield code="d">MAP</subfield>
    </datafield>
    <datafield tag="084" ind1=" " ind2=" ">
      <subfield code="a">329</subfield>
    </datafield>
    <datafield tag="100" ind1="1" ind2=" ">
      <subfield code="0">MAPA20200003526</subfield>
      <subfield code="a">Goodrich, Brittney </subfield>
    </datafield>
    <datafield tag="245" ind1="1" ind2="0">
      <subfield code="a">Participation patterns of the rainfall index insurance for pasture, rangeland and forage programme</subfield>
      <subfield code="c">Brittney Goodrich, Jisang Yu, Monte Vandeveer</subfield>
    </datafield>
    <datafield tag="520" ind1=" " ind2=" ">
      <subfield code="a">Using a novel policyholder-level data set, we analyse participants' choices of 2-month index intervals in the Rainfall Index for Pasture, Rangeland and Forage (RIPRF) insurance programme. We first provide a conceptual model that illustrates participation patterns of the rainfall index insurance. We then connect these predicted patterns to some empirical evidence from the policyholder-level data set, which is a subset of data provided by the USDA Risk Management Agency for all RI-PRF participants in Nebraska and Kansas during the years 20132017. Because the correlations between forage yield and precipitation and the expected premium subsidy vary by month, different degrees of risk aversion may predict distinctively different choices of the 2-month intervals. Using cluster analysis, we group the participants with similar allocation patterns across the 2-month intervals. We observe that the number of participants displaying relatively low levels of risk aversion increase over time. We connect this to the fact that premium subsidies and producer returns associated with non-growing season (risk-increasing) months are often greater than those for growing season (risk-reducing) months, and this has important implications for policy design. Our findings suggest that more research in this area could assist policymakers in keeping the RI-PRF programme in line with its objective of reducing risk for livestock producers.</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080566784</subfield>
      <subfield code="a">Participación</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080578213</subfield>
      <subfield code="a">Seguros agrarios</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080584344</subfield>
      <subfield code="a">Control de riesgos</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080573362</subfield>
      <subfield code="a">Precipitaciones</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20090039650</subfield>
      <subfield code="a">Pastos</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080578848</subfield>
      <subfield code="a">Análisis de datos</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080577001</subfield>
      <subfield code="a">Pago de la prima</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080554286</subfield>
      <subfield code="a">Estimación</subfield>
    </datafield>
    <datafield tag="650" ind1=" " ind2="4">
      <subfield code="0">MAPA20080611880</subfield>
      <subfield code="a">Perspectivas del seguro</subfield>
    </datafield>
    <datafield tag="651" ind1=" " ind2="1">
      <subfield code="0">MAPA20080638337</subfield>
      <subfield code="a">Estados Unidos</subfield>
    </datafield>
    <datafield tag="700" ind1="1" ind2=" ">
      <subfield code="0">MAPA20200003533</subfield>
      <subfield code="a">Yu, Jisang</subfield>
    </datafield>
    <datafield tag="700" ind1="1" ind2=" ">
      <subfield code="0">MAPA20200003540</subfield>
      <subfield code="a">Vandeveer, Monte </subfield>
    </datafield>
    <datafield tag="773" ind1="0" ind2=" ">
      <subfield code="w">MAP20077100215</subfield>
      <subfield code="t">Geneva papers on risk and insurance : issues and practice</subfield>
      <subfield code="d">Geneva : The Geneva Association, 1976-</subfield>
      <subfield code="x">1018-5895</subfield>
      <subfield code="g">01/01/2020 Volumen 45 Número 1 - enero 2020 , p. 29- 51</subfield>
    </datafield>
  </record>
</collection>