Preferences for Livestock Revenue Insurance Among Beef Producers

Personal interviews were conducted with 52 Louisiana cow-calf producers to determine their preferences for a livestock revenue insurance (LRI) product. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. Two-limit tobit models were estimated. Producers were segmented using cluster analysis based upon preferences for LRI product attributes. A multinomial logit model was used to determine differences between characteristics of producers in each cluster. Producers generally preferred higher-premium, zero-deductible products; 180-day policy length; the state price series; and an in-person method of marketing. Cluster analysis yielded three groups of preferences


Issue Date:
2007
Publication Type:
Journal Article
DOI and Other Identifiers:
0738-8950 (Other)
PURL Identifier:
http://purl.umn.edu/62288
Published in:
Journal of Agribusiness, Volume 25, Number 1
Page range:
93-105
Total Pages:
13




 Record created 2017-04-01, last modified 2017-04-04

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