指数保险有效性实证分析

运用Miranda模型研究发现,农户个体产量波动与所在区域产量波动存在高度正相关性,基于区域产量保险的保费率低于传统农业保险的保费率,这有利于刺激指数保险的需求。由于指数保险克服了传统农业保险市场中的逆向选择与道德风险问题,降低了交易成本,从而指数保险能够降低农户的保费支出并有效管理农业生产风险。

An Empirical Analysis of the Effectiveness of Index Insurance

This article reveals the high positive correlation in volatility between producer''s individual yield and the yield of a surrounding area based on the model developed by Miranda. Area yield crop insurance can provide lower premium rate than the traditional individually tailored insurance, thereby significantly boosting producer''s demand for index insurance. Without most of the adverse selection and moral hazard problems that have historically undermined the actuarial performance of the traditional crop insurance, the implementation of index insurance can reduce producer''s insurance expenditure as well as improve agricultural risk management effectiveness.