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An Expected-Indemnity Approach to the Measurement of Moral Hazard in Crop Insurance

Author

Listed:
  • Keith H. Coble
  • Thomas O. Knight
  • Rulon D. Pope
  • Jeffery R. Williams

Abstract

A definition of moral hazard in multiple peril crop insurance is proposed that focuses on expected indemnities rather than input use. Five years of production and insurance data for a panel of Kansas wheat farms is used to empirically test for this type of moral hazard. Results suggest that moral hazard affects multiple peril crop insurance indemnities in poor production years but that no significant moral hazard occurs in years when growing conditions are favorable. Copyright 1997, Oxford University Press.

Suggested Citation

  • Keith H. Coble & Thomas O. Knight & Rulon D. Pope & Jeffery R. Williams, 1997. "An Expected-Indemnity Approach to the Measurement of Moral Hazard in Crop Insurance," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 79(1), pages 216-226.
    • Handle: RePEc:oup:ajagec:v:79:y:1997:i:1:p:216-226
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