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Designing optimal crop revenue insurance

Author

Listed:
  • Olivier Mahul

    (ESR - Unité de recherche d'Économie et Sociologie Rurales - INRA - Institut National de la Recherche Agronomique)

  • Brian Davern Wright

    (LBNL - Lawrence Berkeley National Laboratory [Berkeley])

Abstract

Un contrat optimal d'assurance recette dépend uniquement du chiffre d'affaires agricole si le schéma d'indemnisation est basé sur les rendements individuels et les prix payés au producteur. Cependant, ce contrat n'est pas optimal si le schéma d'indemnisation dépend d'estimateurs imparfaits des rendements et prix individuels, comme c'est le cas des contrats existants d'assurance recette où les prix de référence sont ceux observés sur les marchés à terme. Le comportement de prudence du producteur et la présence de risque de base (sur les prix et rendements) affectent alors le contrat optimal d'assurance. Dans ce contexte, on montre qu'une stratégie optimale de gestion jointe des risques de rendement et de prix repose sur la combinaison de contrats d'assurance (rendement et recette) et d'instruments financiers (contrats à terme et d'options).

Suggested Citation

  • Olivier Mahul & Brian Davern Wright, 2003. "Designing optimal crop revenue insurance," Post-Print hal-01954721, HAL.
    • Handle: RePEc:hal:journl:hal-01954721
    as

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