The Pricing of Revenue Assurance
构建了一个理论模型来评估美国政策制定者讨论的收入保障方案的价值，利用资产定价和随机微积分方法，并用县级作物数据检验了模型的定价能力。
Abstract A theoretical model to value gross revenue assurance under one of the popular proposals facing U.S. policy makers is developed. The approach makes use of a fundamental paradigm of asset valuation and stochastic calculus. Because farm‐level gross revenue is not a traded asset, equilibrium arguments must be made to specify the partial differential equation characterizing the value of the assurance. An example solution is presented under the assumption of lognormally distributed gross revenue. County‐level data for a variety of crops are used to examine empirically the pricing ability of the model.