Crop Insurance, Moral Hazard, and Agricultural Chemical Use
利用堪萨斯州旱地小麦农场数据，检验了购买作物保险与化肥农药使用量的关系，发现保险会促使农民减少化学品投入，支持了道德风险假说。
Abstract This study examines the relationship between chemical input use and crop insurance purchase decisions for a sample of Kansas dryland wheat farmers. Recent research by Horowitz and Lichtenberg indicated that, contrary to conventional wisdom, farmers that purchased insurance tended to use relatively more chemical inputs than farmers who did not insure. In contrast, our results confirm the conventional view that moral hazard incentives lead insured farmers to use fewer chemical inputs. Implications for the joint determination of insurance and input use decisions and appropriate estimation techniques are discussed.