An Empirical Analysis of the Demand for Multiple Peril Crop Insurance
实证分析爱荷华州玉米生产者对农作物保险的需求，发现损失风险影响需求弹性，平均需求弹性约为-0.32（相对投保面积）和-0.73（每种植面积责任额），为保险精算稳健性提供启示。
Abstract Knowledge of factors affecting farmer purchases of crop insurance is essential for evaluating the soundness and profitability of crop insurance programs. Despite this importance, the demand for crop insurance has received limited empirical attention. The present paper reports on an empirical assessment of the demand for crop insurance by Iowa corn producers. Adverse selection in the insured pool suggests that producers with differing levels of loss‐risk have different demand elasticities. Loss‐risk is included in the empirical analysis and is found to influence the elasticity of demand. Results show average demand elasticities of about −0.32 for relative insured acres and −0.73 for liability per planted acre. Implications for the actuarial soundness of the industry are provided.