Livestock Revenue Insurance
设计了牲畜收入保险的几种结构，将其视为亚洲篮子期权，结合两种定价技术计算精算公平保费，并评估了保费、生产者福利和效率。
This study outlines several possible structures for livestock revenue insurance. The policies take the form of an exotic optionan Asian basket option. The actuarially fair premiums for these policies are equal to the prices of the options they represent. Due to the complexity of pricing Asian basket options, we have combined two techniques for pricing options to reach the actuarially fair premiums. Projected premiums, producer welfare, and program efficiency are evaluated for the insurance products and existing market tools. Using efficiency ratios and certainty equivalent returns, we compare the insurance policies to strategies involving existing futures and options.