Indifference Pricing of Weather Derivatives
针对天气衍生品难以定价的问题，采用无差异定价方法计算德国农作物生产者对天气保险的支付意愿，发现其因生产计划和地区而异，为定制化保险产品开发提供参考。
Abstract Weather derivatives are difficult to price due to the nontradability of weather and the absence of liquid secondary markets for these contracts. We use the concept of indifference pricing to develop a model for calculating the willingness to pay for weather insurance. Compared with other approaches, indifference pricing is less ambitious since it does not attempt to predict a transacted market price. The application of indifference pricing in the case of German crop producers shows that their willingness to pay for weather insurance depends on the production program and varies regionally. This suggests the development of tailored insurance products.