Title: Designing Crop Insurance to Manage Moral Hazard Costs
Abstract: A new crop insurance model based on just random risk (natural states) is presented instead of traditional model based on random risk, guaranteed price, and guaranteed yield. The simulation approach shows how the incentive compatibility constraints resolve the moral hazard problem by the insured under the insurer-agency crop insurance contracting.
Publication Year: 2002
Publication Date: 2002-01-01
Language: en
Type: preprint
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Cited By Count: 1
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