TY - JOUR
T1 - Willingness to pay for a potential insurance policy
T2 - Case study of trout aquaculture
AU - Shaik, Saleem
AU - Coble, Keith H.
AU - Hudson, Darren
AU - Miller, James C.
AU - Hanson, Terrill R.
AU - Sempier, Stephen H.
PY - 2008/4
Y1 - 2008/4
N2 - Using trout producer survey data and the contingent valuation method, we estimate willingness to pay for a potential insurance policy. The survey was conducted in 2005 across the United States; 268 producers completed the survey instrument, resulting in a response rate of 81 percent. Design of the contingent valuation method takes into account two coverage levels and four premium rates. Using standard willingness-to-pay techniques, we assess the premium rate that producers with varying practices and regions are willing to pay for two different coverage levels of insurance. In general, trout producers appear willing to pay premium rates of 2 to 11 percent for these coverage levels.
AB - Using trout producer survey data and the contingent valuation method, we estimate willingness to pay for a potential insurance policy. The survey was conducted in 2005 across the United States; 268 producers completed the survey instrument, resulting in a response rate of 81 percent. Design of the contingent valuation method takes into account two coverage levels and four premium rates. Using standard willingness-to-pay techniques, we assess the premium rate that producers with varying practices and regions are willing to pay for two different coverage levels of insurance. In general, trout producers appear willing to pay premium rates of 2 to 11 percent for these coverage levels.
KW - Aquaculture trout insurance
KW - Subjective elicitation and survey data
KW - Willingness to pay
UR - http://www.scopus.com/inward/record.url?scp=82255191786&partnerID=8YFLogxK
U2 - 10.1017/S1068280500002136
DO - 10.1017/S1068280500002136
M3 - Article
AN - SCOPUS:82255191786
SN - 1068-2805
VL - 37
SP - 41
EP - 50
JO - Agricultural and Resource Economics Review
JF - Agricultural and Resource Economics Review
IS - 1
ER -