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An Internet-Based Tool for Weather Risk Management

Published online by Cambridge University Press:  15 September 2016

Calum G. Turvey  and
Michael Norton
Calum G. Turvey
Affiliation:
Agricultural Finance and Michael Norton is a Graduate Research Assistant in the Department of Applied Economics and Management at Cornell University in Ithaca, New York
Michael Norton
Affiliation:
Agricultural Finance and Michael Norton is a Graduate Research Assistant in the Department of Applied Economics and Management at Cornell University in Ithaca, New York
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Abstract

This paper introduces a web-based computer program designed to evaluate weather risk management and weather insurance in the United States. The paper outlines the economics of weather risk in terms of agricultural production and household well-being; defines weather risk in terms of intensity, duration, and frequency; and illustrates the computer program use by comparing heat and precipitation risks at Ardmore, Oklahoma, and Ithaca, New York.

Keywords

weather insuranceheat insuranceprecipitation insurancecrop insuranceweather derivatives
Type
Contributed Papers
Information
Agricultural and Resource Economics Review , Volume 37 , Issue 1 , April 2008 , pp. 63 - 78
Copyright
Copyright © 2008 Northeastern Agricultural and Resource Economics Association 

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