DOI: 10.1016/j.crm.2015.06.003
Scopus记录号: 2-s2.0-84947491483
论文题名: Flexible weather index-based insurance design
作者: Conradt S. ; Finger R. ; Spörri M.
刊名: Climate Risk Management
ISSN: 22120963
出版年: 2015
卷: 10 起始页码: 106
结束页码: 117
语种: 英语
英文关键词: Agricultural risk management
; Downside risk
; Index design
; Quantile Regression
; Weather index-based insurance
英文摘要: This study investigates the performance of a flexible index design for weather index-based insurances using farm-level panel data on wheat production from Kazakhstan. The proposed flexible design is a generic framework that uses Growing Degree Days to determine annual variable start and end dates for the insured period. This approach reflects the progress of phenological plant growth phases more accurately than fixed periods and hence is expected to reduce the basis risk of the index insurance. In addition, we develop an economic framework that focuses on the role of downside risks and apply Quantile Regression to tailor optimal insurance specifications. This framework is then used to compare the downside risks associated with the use of flexible and fixed insurance periods. The results show that the introduction of flexibility in the index design leads to a reduction in farmers' downside risk exposure and to a more efficient contract design. © 2015 The Authors. Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/59053
Appears in Collections: 气候变化与战略
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作者单位: ETH Zurich, Institute for Environmental Decisions, Agricultural Economics Group, Zurich, Switzerland; University of Bonn, Institute for Food and Resource Economics, Production Economics Group, Germany
Recommended Citation:
Conradt S.,Finger R.,Spörri M.. Flexible weather index-based insurance design[J]. Climate Risk Management,2015-01-01,10