Average Crop Revenue Election: A Revenue‐Based Alternative to Price‐Based Commodity Payment Programs
建立随机模型分析2008年农业法案中的平均作物收入选择（ACRE）计划，发现该计划平均降低玉米、小麦和大豆农民2009年的下行收入风险16%、21%和23%，且高预期产量、低产量波动的农场受益最大。
This article develops a stochastic model of the Average Crop Revenue Election (ACRE) program, which offers revenue‐based commodity payments under the 2008 Farm Act. Our analysis shows that adding ACRE revenue payments to gross revenue reduces downside revenue risk for corn, wheat, and soybean farmers in 2009 on average by 16%, 21%, and 23%, respectively. Results indicate that farms with higher expected yields and lower variance of yields tend to benefit the most from ACRE. Integrating federal crop insurance with ACRE lowers insurance premiums from 10% to 40%, depending on the crop and location.