Area‐Yield Crop Insurance Reconsidered
探讨区域产量农作物保险，认为基于区域总产量的保险比基于个人产量的保险更能有效覆盖产量损失，且能避免逆向选择和道德风险问题。
Abstract One of the more promising proposals for reforming the federal crop insurance program calls for both premium rates and indemnities to be based not on the producer's individual yield but rather on the aggregate yield of a surrounding area. Area‐yield crop insurance can provide more effective yield‐loss coverage than individually tailored insurance, without most of the adverse selection and moral hazard problems that have historically undermined the actuarial performance of the federal crop insurance program.