Private Crop Insurers and the Reinsurance Fund Allocation Decision
研究美国农业部通过标准再保险协议再保险的私人农作物保险公司的策略行为，分析其如何将保单分配到不同风险分担安排中，并比较实际分配与两种替代策略的收益。
This research investigates the strategic behavior of private crop insurance firms reinsured by the USDA through the Standard Reinsurance Agreement. This arrangement allows the private firm to strategically allocate individual policies into different risk‐sharing arrangements. Thus, firm earnings are conditioned upon accurately forecasting policy loss experience. Our analysis begins with models investigating the characteristics explaining the placement of policies into the assigned risk fund. Then a simulation model of the SRA is used to compare the post‐SRA returns of actual firm allocations to two alternative allocation strategies based on a aggregate models and a policy‐level econometric forecasting model.