Impact of copula choice on the modeling of crop yield basis risk
研究了在评估县到农场基差风险时，不同连接函数选择对建模偏差和效率的影响，发现不同连接函数和方法的性能存在显著差异，对农业风险分析、保险和政策建模有重要启示。
Abstract A number of problems in agricultural economics involve modeling joint distributions for which the assumption of multivariate normality may not be warranted. Yet, very little work has been conducted evaluating competing methods for modeling joint dependence. We develop a simulation framework to evaluate the bias and efficiency impacts of copula choice in the context of evaluating county‐to‐farm basis risk. The results suggest significant differences in performance across various copulas and approaches. The findings have important implications for risk analysis, insurance, and policy modeling problems in agriculture regarding the selection of method to model dependence among random variables.