Agricultural Insurance and Soil Depletion in a Simple Dynamic Model
研究农业保险在短期生产收入和土地价值双重风险下对农场生产选择、土壤耗竭和环境的影响，发现稳定生产收入的保险会加剧土壤耗竭，而稳定土地价值的保险则能缓解环境外部性。
Abstract We study the effects of agricultural insurance on farm production choices, soil depletion and the environment when there are two related risks, one in short‐to‐medium run production revenues and the other in land value. The analysis considers “pure” and “truncating” insurance programs that stabilize linear combinations of short‐run revenue risk and land price risk. Production‐revenue‐stabilizing insurance is often found to elicit increased farmer output, thus exacerbating environmental externalities and causing further soil depletion. Land‐value‐stabilizing insurance typically elicits lower output thus mitigating environmental externalities and pushing farmers closer to their complete‐insurance output levels.