Optimal Coverage Level Choice with Individual and Area Insurance Plans
研究了农民在区域与个体损失正相关但不完全相关时，如何选择区域和个体农作物保险的最优组合，分析了不同费率设定下的保险需求变化。
We theoretically examine a farmer's optimal use of area and individual crop insurance when area and individual losses are positively but imperfectly correlated. If premium rates for both plans are actuarially fair,the farmer will demand full individual insurance and no area insurance. If area insurance is free and individual insurance is offered at an actuarially fair rate, area insurance replaces a portion of individual insurance demand. If individual insurance is offered as a wrap around the area plan at an actuarially fair rate and area insurance is free, the farmer will demand excess individual insurance and some area insurance.