Author:

Publisher: DIANE Publishing

Published:

Total Pages: 507

ISBN-13: 1428906630

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The demand for commodity insurance by developing country agricultural producers : theory and an application to cocoa in Ghana
The demand for commodity insurance by developing country agricultural producers : theory and an application to cocoa in Ghana

Author: Alexander Sarris

Publisher: World Bank Publications

Published: 2002

Total Pages: 56

ISBN-13:

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The author considers the benefit to agricultural producers of commodity price insurance that provides in every year-but in advance of the resolution of production and price uncertainty--a minimum price for a fixed or variable portion of production. Under the assumption that producers do not change their long term production and income diversification pattern, the author suggests a theoretical framework that leads to explicit formulas of the benefit in providing this type of insurance. He shows that this benefit depends not only on the actuarially fair insurance premium, but also on household-specific factors that depend on the attitudes to risk, the consumption smoothing parameters, and the household-specific exposures to income risks. The author applies the theoretical framework for Ghana, using the Ghana Living Standards Survey data to specify various classes of cocoa-producing households and monthly price data for both domestic and international prices, to formulate appropriate models for ascertaining price risks faced by producers. The author gives empirical estimates of the actuarially fair premium, and shows that they are smaller than market-based put option prices from organized exchanges. The overall benefit in providing minimum price insurance to households, however, turns out to be substantially higher than the actuarially fair premiums and the market-based put option prices. This is due to both the magnitude of the uncertainties facing the households, as well as their risk and consumption smoothing behavior.

New Perspectives in Economics
New Perspectives in Economics

Author: Emerald Group Publishing Limited

Publisher: Emerald Group Publishing

Published: 2015-11-02

Total Pages: 198

ISBN-13: 1785608886

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New Perspectives in Economics: A United States Focus is a new collection of topical articles that examine the changing economic landscape in the United States of America. This book provides researchers, professionals, managers and policy makers with an easy-to-read selection of interesting research articles.

Wine Economics
Wine Economics

Author: Stefano Castriota

Publisher: MIT Press

Published: 2020-11-17

Total Pages: 321

ISBN-13: 0262044676

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A comprehensive and interdisciplinary approach to the economics of the production, distribution, and consumption of wine. Wine economics is a growing subfield that examines the economics of the production, distribution, and consumption of wine. In this book, Stefano Castriota takes a comprehensive and interdisciplinary approach to the study of wine economics, drawing on literature from industrial organization, welfare economics, economic policy, political economy, management, finance, health economics, law, and criminology. Castriota explores how wine markets operate and how they are regulated, covering such diverse topics as the health economics of wine consumption (both the positive health effects associated with moderate wine intake and the negative effects of alcohol abuse), the competition and profitability of wineries, the function of wine as an investment, and the quality of wine. He examines differences between the wine industries in the Old World and the New World, comparing small, family-owned wineries with larger conglomerates, and analyzes the regulation of wine in the United States versus the European Union. He concludes with a series of recommendations to ensure open and efficient wine markets while protecting public health. Originally published in Italy as Economia del Vino, this English translation has been extensively revised. It includes additional material focusing on the English-speaking countries of the New World, particularly the regulatory environment of the United States and the lingering effects of Prohibition.

OECD Development Pathways Multi-dimensional Review of the Western Balkans Assessing Opportunities and Constraints
OECD Development Pathways Multi-dimensional Review of the Western Balkans Assessing Opportunities and Constraints

Author: OECD

Publisher: OECD Publishing

Published: 2021-06-10

Total Pages: 654

ISBN-13: 9264861769

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The Western Balkans region has come a long way over the last two decades in achieving economic and social progress. With a population of 17.6 million, the region today boasts a combined gross domestic product (GDP) of close to EUR 100 billion, an average GDP per capita of about EUR 5 400 and a comprehensive process of integration with the European Union.