Willingness to pay for weather-based index insurance in milk production

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This paper proposes the use of a weather-based index insurance for managing production risk in dairy farms of Argentina. We analyse the potential use of this product to protect against the risk of reduced milk production caused by extreme weather conditions (rainfall and temperature). Using milk pro...

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Autores principales:	Lema, Daniel, Gastaldi, Laura Beatriz, Gallacher, Marcos, Galetto, Alejandro
Formato:	Artículo publishedVersion
Lenguaje:	Español
Publicado:	2019
Materias:	Seguros Leche Producción Índices climáticos
Acceso en línea:	http://bibliotecadigital.econ.uba.ar/econ/collection/rimf/document/rimf_v8_n1_04 https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=modelfin&d=rimf_v8_n1_04_oai
Aporte de:	Repositorio Digital de la Universidad de Buenos Aires (UBA) de Universidad de Buenos Aires

id	I28-R145-rimf_v8_n1_04_oai
record_format	dspace
spelling	I28-R145-rimf_v8_n1_04_oai2025-02-11 Lema, Daniel Gastaldi, Laura Beatriz Gallacher, Marcos Galetto, Alejandro 2019 This paper proposes the use of a weather-based index insurance for managing production risk in dairy farms of Argentina. We analyse the potential use of this product to protect against the risk of reduced milk production caused by extreme weather conditions (rainfall and temperature). Using milk producer survey data and contingent valuation method we estimate willingness to pay for a potential insurance policy. The survey was conducted in the central region of Argentina and 165 milk producers were surveyed. Design of the contingent valuation method considers the specific characteristics of the potential product and four premium rates. Using standard willingness to pay techniques, we assess the premium rate that milk producers are willing to pay. In general milk producers appear willing to pay premium rates of 6 to 12 percent for the hypothetical insurance product. El trabajo analiza la valoración por un seguro de riesgo climático en productores de leche en Argentina. Se analiza el uso potencial de este tipo de seguros como mecanismo de cobertura ante disminuciones de producción de leche causadas por condiciones climáticas adversas tales como inundación, sequía y altas temperaturas. Mediante la implementación de una encuesta a productores se estimó la disposición a pagar (DAP) utilizando métodos de valoración contingente. El producto que se trata de valorar es un seguro paramétrico basado en un índice de precipitaciones y temperatura. De acuerdo con las estimaciones los productores estarían dispuestos a pagar una prima entre 6% y 12% del total de los litros de leche asegurados. Fil: Lema, Daniel. Instituto Nacional de Tecnología Agropecuaria (INTA) Fil: Gastaldi, Laura Beatriz. INTA. Estación Experimental Agropecuaria Rafaela. Santa Fe. Argentina Fil: Gallacher, Marcos. Universidad del CEMA Fil: Galetto, Alejandro. Universidad Austral. Facultad de Ciencias Empresariales application/pdf rimf_v8_n1_04 http://bibliotecadigital.econ.uba.ar/econ/collection/rimf/document/rimf_v8_n1_04 spa info:eu-repo/semantics/openAccess http://creativecommons.org/licenses/by/2.5/ar/ Rev. investig. modelos financ. Vol. 08, Nro. 01 (2019), p. 52-69 Seguros Leche Producción Índices climáticos Willingness to pay for weather-based index insurance in milk production info:eu-repo/semantics/article info:ar-repo/semantics/artículo info:eu-repo/semantics/publishedVersion https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=modelfin&d=rimf_v8_n1_04_oai
institution	Universidad de Buenos Aires
institution_str	I-28
repository_str	R-145
collection	Repositorio Digital de la Universidad de Buenos Aires (UBA)
language	Español
orig_language_str_mv	spa
topic	Seguros Leche Producción Índices climáticos
spellingShingle	Seguros Leche Producción Índices climáticos Lema, Daniel Gastaldi, Laura Beatriz Gallacher, Marcos Galetto, Alejandro Willingness to pay for weather-based index insurance in milk production
topic_facet	Seguros Leche Producción Índices climáticos
description	This paper proposes the use of a weather-based index insurance for managing production risk in dairy farms of Argentina. We analyse the potential use of this product to protect against the risk of reduced milk production caused by extreme weather conditions (rainfall and temperature). Using milk producer survey data and contingent valuation method we estimate willingness to pay for a potential insurance policy. The survey was conducted in the central region of Argentina and 165 milk producers were surveyed. Design of the contingent valuation method considers the specific characteristics of the potential product and four premium rates. Using standard willingness to pay techniques, we assess the premium rate that milk producers are willing to pay. In general milk producers appear willing to pay premium rates of 6 to 12 percent for the hypothetical insurance product.
format	Artículo Artículo publishedVersion
author	Lema, Daniel Gastaldi, Laura Beatriz Gallacher, Marcos Galetto, Alejandro
author_facet	Lema, Daniel Gastaldi, Laura Beatriz Gallacher, Marcos Galetto, Alejandro
author_sort	Lema, Daniel
title	Willingness to pay for weather-based index insurance in milk production
title_short	Willingness to pay for weather-based index insurance in milk production
title_full	Willingness to pay for weather-based index insurance in milk production
title_fullStr	Willingness to pay for weather-based index insurance in milk production
title_full_unstemmed	Willingness to pay for weather-based index insurance in milk production
title_sort	willingness to pay for weather-based index insurance in milk production
publishDate	2019
url	http://bibliotecadigital.econ.uba.ar/econ/collection/rimf/document/rimf_v8_n1_04 https://repositoriouba.sisbi.uba.ar/gsdl/cgi-bin/library.cgi?a=d&c=modelfin&d=rimf_v8_n1_04_oai
work_keys_str_mv	AT lemadaniel willingnesstopayforweatherbasedindexinsuranceinmilkproduction AT gastaldilaurabeatriz willingnesstopayforweatherbasedindexinsuranceinmilkproduction AT gallachermarcos willingnesstopayforweatherbasedindexinsuranceinmilkproduction AT galettoalejandro willingnesstopayforweatherbasedindexinsuranceinmilkproduction
_version_	1825551208855633920

Willingness to pay for weather-based index insurance in milk production

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