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1 results

  • Beef Producer Preferences and Purchase Decisions for Livestock Price Insurance

  • Deacue Fields, Jeffrey Gillespie
  • Journal:
    Journal of Agricultural and Applied Economics / Volume 40 / Issue 3 / December 2008
    Published online by Cambridge University Press:
    26 January 2015, pp. 789-803

  • Personal interviews were conducted with beef cattle producers in Louisiana to determine their preferences and purchase decisions for livestock price insurance. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. The characteristics of producers who prefer given attributes were also identified. Producers rated products given four economic situations to evaluate. A two-limit tobit model was used to estimate the part worth utility values for each attribute. Univariate probit models were estimated to evaluate the influence of producer characteristics on purchase decisions.