Barry J. Barnett

University of Kentucky

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Keith H. Coble

Mississippi State University

Jerry R. Skees

University of Kentucky

Ardian Harri

Mississippi State University

Xiaohui Deng

Hubei Academy of Agricultural Sciences

Dmitry V. Vedenov

Texas A&M University

Jesse Tack

Kansas State University

James C. Miller

Indiana University School of Medicine

Gerrit Hoogenboom

University of Florida

Yingzhuo Yu

Institute of Geographic Sciences and Natural Resources Research

J. Roy Black

University of Melbourne

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Agricultural & Applied Economics Association

Mississippi State University

The University of Texas at Austin

University of Georgia

Institute of Electrical and Electronics Engineers

Purdue University West Lafayette

Michigan State University

Cornell University

Signal Processing (United States)

The Ohio State University

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UNDERSTANDING CROP INSURANCE PRINCIPLES: A PRIMER FOR FARM LEADERS

Kagoshima Daigaku Kogakubu Kenkyu Hokoku (1999)

Barry J. Barnett Keith H. Coble

Federal policy-makers increasingly emphasize the Federal Crop Insurance Program as the primary federal risk management program for farmers. Farm leaders need to understand the underlying mechanics of insurance products if they are to effectively argue their interests and contribute constructively to future agricultural policy dialogue. Further they need to understand the unique circumstances created by the fact that the Federal Crop Insurance Program functions as a public-private partnership between the U.S. government and private insurance companies. This manuscript describes both the fundamental features of insurance products and the political economy of the federal crop insurance program.

Crop insurance

10.22004/ag.econ.15784

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Citations (17)

US Government Natural Disaster Assistance: Historical Analysis and a Proposal for the Future

Disasters (1999)

Barry J. Barnett

Governments often provide grants or low‐interest loans to disaster victims. Yet these programmes have proven to be quite costly. In addition, questions have been raised about associated behavioural incentives. Conceptually, government disaster insurance programmes should be more efficient, consistent and equitable than ex post facto disaster relief in the form of grants and loans. Yet the performance of government disaster insurance programmes has been mixed, at best. This article reviews the history of US federal natural disaster assistance to individuals and concludes with a recommendation for a new government role in the provision of disaster insurance.

10.1111/1467-7717.00110

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Citations (60)

Region and Crop Specific Models of the Demand for Federal Crop Insurance

Journal of Insurance Issues (1995)

Barry J. Barnett Jerry R. Skees

A specification search process is used to examine whether or not there are significant crop and region specific differences in factors that explain Federal Crop Insurance Program participation. Estimates of the price elasticity of demand for federal crop insurance are of particular importance.

Crop insurance

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THI Application to Insuring Against Heat Stress in Dairy Cows

RePEc: Research Papers in Economics (2004)

Xiaohui Deng Barry J. Barnett Dmitry V. Vedenov Joe W. West

Heat stress is associated with reduced milk production in dairy cows. Insurance instruments based on an index of ambient temperature and relative humidity measured at Macon, Georgia and Tallahassee, Florida are shown to reduce net revenue risk for a representative farm in south-central Georgia. Key words: risk management, THI, weather derivatives, revenue variance reduction 2

Heat index

10.22004/ag.econ.34800

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The Potential Implications of 'Big Ag Data' for USDA Forecasts

SSRN Electronic Journal (2017)

Jesse Tack Keith H. Coble Robert Johansson Ardian Harri Barry J. Barnett

Recent advances in precision agriculture technology have increased the potential to capture near-real time data such as planting and yield information. It is well established that information on crop acreage and yield can have value in commodity markets. That is why the USDA conducts farm surveys and freely reports such information. In this study we use a large sample (just over 1.5 million observations) of farm-level corn yield data to consider if it is possible to use non-random farm yield data (such as might be available to providers of precision agriculture services) to accurately predict the national corn yield. Specifically, we examine scenarios where a forecasting agent has data that is not representative either because it is from a limited region or because it consists primarily of large farms. In general, we conclude that large volumes of data can, to some degree, overcome forecasting bias caused by non-representative samples. Moreover, if the forecaster can benchmark against an unbiased estimator, it may be possible to remove much of the bias from estimates generated by non-representative samples.

10.2139/ssrn.2909215

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Citations (4)

Competitive with Farm Yield Insurance

Barry J. Barnett J. Roy Black Yingyao Hu Jerry R. Skees

This article compares risk reduction from MPCI and GRP crop insurance contracts. The analysis extends and improves on the existing area-yield insurance literature in four important respects. First, the geographical scope greatly exceeds that of previous work. Second, unlike previous efforts, the area is not assumed to consist only of those farms included in the analysis. Third, the analysis is based on the actual GRP indemnity function rather than the area-yield indemnity function commonly used in the literature. Fourth, the analysis avoids the questionable assumption that GRP scale can be optimized at the individual farm level. Even with a number of conservative assumptions favoring MPCI relative to GRP, results indicate that at least for some crops and regions GRP is a viable alternative to MPCI.

Indemnity

Scope (computer science)

Crop insurance

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Analyzing Producer Preferences for Counter-Cyclical Government Payments

Journal of Agricultural and Applied Economics (2003)

James C. Miller Barry J. Barnett Keith H. Coble

A dynamic-stochastic model is developed to evaluate preferences among alternative countercyclical payment programs for representative farms producing corn or soybeans in Iowa and cotton or soybeans in Mississippi. Countercyclical payment programs are found to not necessarily be preferred to fixed payment programs.

10.1017/s1074070800028376

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Ascs Program Yields: Policy Implications For Regional Resource Allocation And Crop Insurance

Barry J. Barnett Jerry R. Skees

This paper addresses a number of issues with respect to ASCS program yields. In particular, results from simple regression models suggest that ASCS yields reflect yields per harvested acre rather than yields per planted acre. These results have significant policy implications for both regional resource allocation and crop insurance.

Crop insurance

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Is There a Viable Market for Area‐Based Crop Insurance?

American Journal of Agricultural Economics (2007)

Xiaohui Deng Barry J. Barnett Dmitry V. Vedenov

The performance of area yield insurance and farm‐level multiple peril crop insurance is analyzed for cotton and soybean production in Georgia and South Carolina. The analysis improves on many previous studies by utilizing actual farm‐level yield data and by comparing the two types of insurance products not only for actuarially fair premium rates but also for actual unsubsidized and subsidized premium rates. Results suggest that, even in heterogeneous production regions, area yield insurance may be a viable alternative to farm‐level insurance when premium rates for farm‐level insurance contain large positive wedges.

Crop insurance

Insurance premium

10.1111/j.1467-8276.2007.00975.x

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Citations (82)

Victor Melgar's Coffee Farm

The International Food and Agribusiness Management Review (2003)

Salvador Melgar Lisa House Barry J. Barnett

This case study focuses on a coffee farmer in Guatemala who, given current low coffee prices, is worried about his ability to maintain the family tradition of coffee production. He wonders whether the current low prices are just another of the periodic downturns in the volatile coffee market or whether the market is experiencing structural changes that will have long-term implications. In this case, the farmer is presented with three alternatives, including continuing to produce and market commodity coffee. The other alternatives involve changes in production and/or marketing practices intended to increase profit margins.

Agribusiness

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