A Risk Analysis of Adjusted Gross Revenue-Lite on Beef Farms
This study evaluates the Adjusted Gross Revenue-Lite (AGR-Lite) whole-farm adjusted gross revenue insurance program on net farm income risk using panel data from 49 southeast Kansas beef farms. On average for the group, but not each individual farm, AGR-Lite reduces the mean and standard deviation o...
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| Veröffentlicht in: | Journal of agricultural and applied economics 2014-05, Vol.46 (2), p.227-244 |
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| container_title | Journal of agricultural and applied economics |
| container_volume | 46 |
| creator | Williams, Jeffery R. Saffert, Andrew T. Barnaby, G. Art Llewelyn, Richard V. Langemeier, Michael R. |
| description | This study evaluates the Adjusted Gross Revenue-Lite (AGR-Lite) whole-farm adjusted gross revenue insurance program on net farm income risk using panel data from 49 southeast Kansas beef farms. On average for the group, but not each individual farm, AGR-Lite reduces the mean and standard deviation of net farm income, raises the average minimum, and lowers the average maximum observations of the net income distribution. Thirty-four farms (69%) received at least one indemnity payment. Stochastic efficiency with respect to a function reveals that AGR-Lite is preferred by 18 of the farm managers (37%) when an upper bound on the risk-aversion coefficient is used. |
| doi_str_mv | 10.1017/S1074070800000754 |
| format | Article |
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Art ; Llewelyn, Richard V. ; Langemeier, Michael R.</creator><creatorcontrib>Williams, Jeffery R. ; Saffert, Andrew T. ; Barnaby, G. Art ; Llewelyn, Richard V. ; Langemeier, Michael R.</creatorcontrib><description>This study evaluates the Adjusted Gross Revenue-Lite (AGR-Lite) whole-farm adjusted gross revenue insurance program on net farm income risk using panel data from 49 southeast Kansas beef farms. On average for the group, but not each individual farm, AGR-Lite reduces the mean and standard deviation of net farm income, raises the average minimum, and lowers the average maximum observations of the net income distribution. Thirty-four farms (69%) received at least one indemnity payment. Stochastic efficiency with respect to a function reveals that AGR-Lite is preferred by 18 of the farm managers (37%) when an upper bound on the risk-aversion coefficient is used.</description><identifier>ISSN: 1074-0708</identifier><identifier>EISSN: 2056-7405</identifier><identifier>EISSN: 1074-0708</identifier><identifier>DOI: 10.1017/S1074070800000754</identifier><language>eng</language><publisher>New York, USA: Cambridge University Press</publisher><subject>AGR-Lite ; Agricultural commodities ; Agricultural production ; Agriculture ; Beef ; beef farms ; C corporations ; Cattle ; Costs ; Crop insurance ; Crops ; Design ; Farm income ; Farm management ; Farms ; Feeds ; Income ; Income distribution ; Insurance applications ; Insurance coverage ; Insurance policies ; Irrigation ; Liability ; Livestock ; Net income ; Purchasing ; Q12 ; Q18 ; Risk analysis ; Risk assessment ; Risk aversion ; whole-farm revenue insurance</subject><ispartof>Journal of agricultural and applied economics, 2014-05, Vol.46 (2), p.227-244</ispartof><rights>Copyright © Southern Agricultural Economics Association 2014</rights><rights>Copyright Southern Agricultural Economics Association May 2014</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c3074-13f6a0b20c8ab7a69e6ecbd8cadbfc011f34d7bead2d97cb212c24f9412448473</citedby><cites>FETCH-LOGICAL-c3074-13f6a0b20c8ab7a69e6ecbd8cadbfc011f34d7bead2d97cb212c24f9412448473</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,780,784,27924,27925</link.rule.ids></links><search><creatorcontrib>Williams, Jeffery R.</creatorcontrib><creatorcontrib>Saffert, Andrew T.</creatorcontrib><creatorcontrib>Barnaby, G. Art</creatorcontrib><creatorcontrib>Llewelyn, Richard V.</creatorcontrib><creatorcontrib>Langemeier, Michael R.</creatorcontrib><title>A Risk Analysis of Adjusted Gross Revenue-Lite on Beef Farms</title><title>Journal of agricultural and applied economics</title><addtitle>J. Agric. Appl. Econ</addtitle><description>This study evaluates the Adjusted Gross Revenue-Lite (AGR-Lite) whole-farm adjusted gross revenue insurance program on net farm income risk using panel data from 49 southeast Kansas beef farms. On average for the group, but not each individual farm, AGR-Lite reduces the mean and standard deviation of net farm income, raises the average minimum, and lowers the average maximum observations of the net income distribution. Thirty-four farms (69%) received at least one indemnity payment. 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Art</au><au>Llewelyn, Richard V.</au><au>Langemeier, Michael R.</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>A Risk Analysis of Adjusted Gross Revenue-Lite on Beef Farms</atitle><jtitle>Journal of agricultural and applied economics</jtitle><addtitle>J. Agric. Appl. Econ</addtitle><date>2014-05-01</date><risdate>2014</risdate><volume>46</volume><issue>2</issue><spage>227</spage><epage>244</epage><pages>227-244</pages><issn>1074-0708</issn><eissn>2056-7405</eissn><eissn>1074-0708</eissn><abstract>This study evaluates the Adjusted Gross Revenue-Lite (AGR-Lite) whole-farm adjusted gross revenue insurance program on net farm income risk using panel data from 49 southeast Kansas beef farms. On average for the group, but not each individual farm, AGR-Lite reduces the mean and standard deviation of net farm income, raises the average minimum, and lowers the average maximum observations of the net income distribution. Thirty-four farms (69%) received at least one indemnity payment. Stochastic efficiency with respect to a function reveals that AGR-Lite is preferred by 18 of the farm managers (37%) when an upper bound on the risk-aversion coefficient is used.</abstract><cop>New York, USA</cop><pub>Cambridge University Press</pub><doi>10.1017/S1074070800000754</doi><tpages>18</tpages><oa>free_for_read</oa></addata></record> |
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| source | AgEcon; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | AGR-Lite Agricultural commodities Agricultural production Agriculture Beef beef farms C corporations Cattle Costs Crop insurance Crops Design Farm income Farm management Farms Feeds Income Income distribution Insurance applications Insurance coverage Insurance policies Irrigation Liability Livestock Net income Purchasing Q12 Q18 Risk analysis Risk assessment Risk aversion whole-farm revenue insurance |
| title | A Risk Analysis of Adjusted Gross Revenue-Lite on Beef Farms |
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