Weather Derivatives for Specific Event Risks in Agriculture | Zendy

Turvey Calum G. | Zendy

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Weather Derivatives for Specific Event Risks in Agriculture

Author(s) -

Turvey Calum G.

Publication year - 2001

Publication title -

applied economic perspectives and policy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.4

H-Index - 49

eISSN - 2040-5804

pISSN - 2040-5790

DOI - 10.1111/1467-9353.00065

Subject(s) - event (particle physics) , agriculture , business , environmental science , natural resource economics , economics , geography , physics , archaeology , quantum mechanics

This paper examines the economics and pricing of weather derivatives in Ontario and argues that weather derivatives and weather insurance can be used as a form of agricultural insurance. Using historical data, the relationship between crop productivity and weather is examined. Then a variety of put and call options for rain‐ and heat‐based weather risk are discussed and numerically evaluated. The evaluation examines in detail the pricing of insurance contracts at a given location and across space.

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