Neoclassical Approach to Traditional Business Insurance – Introduction to the Theory of Agricultural Insurance

J. Kulawik
{"title":"Neoclassical Approach to Traditional Business Insurance – Introduction to the Theory of Agricultural Insurance","authors":"J. Kulawik","doi":"10.30858/zer/89614","DOIUrl":null,"url":null,"abstract":"The contemporary agriculture is among the most risky economic activities. In addition to the previously known production, price and market risk, and later also the financial risk, today agricultural producers are increasingly more often confronted with institutional risk and personnel management risk and risk related to climate change. On the other hand, farmers have at their disposal numerous tools and strategies to counteract threats and mitigate their negative effects. Among these risk management instruments and strategies, traditional/ conventional insurance of crops, livestock and tangible assets is still important. In this context, the basic goal of the article is to generalise the theoretical foundations of the above-mentioned insurance, but limited to their historically oldest approach; hence on the basis of neoclassical microeconomics and classical decision theory. According to the convention existing, the essence of the theory/hypothesis of the expected utility of von Neumann–Morgenstern is first analysed. In the last part of the article, the assumptions of the expected utility theory are concretised on the example of agricultural insurance.","PeriodicalId":402954,"journal":{"name":"FoodSciRN: Other Agricultural Food Science","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2018-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"FoodSciRN: Other Agricultural Food Science","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.30858/zer/89614","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0

Abstract

The contemporary agriculture is among the most risky economic activities. In addition to the previously known production, price and market risk, and later also the financial risk, today agricultural producers are increasingly more often confronted with institutional risk and personnel management risk and risk related to climate change. On the other hand, farmers have at their disposal numerous tools and strategies to counteract threats and mitigate their negative effects. Among these risk management instruments and strategies, traditional/ conventional insurance of crops, livestock and tangible assets is still important. In this context, the basic goal of the article is to generalise the theoretical foundations of the above-mentioned insurance, but limited to their historically oldest approach; hence on the basis of neoclassical microeconomics and classical decision theory. According to the convention existing, the essence of the theory/hypothesis of the expected utility of von Neumann–Morgenstern is first analysed. In the last part of the article, the assumptions of the expected utility theory are concretised on the example of agricultural insurance.
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
传统商业保险的新古典主义研究——农业保险理论导论
现代农业是风险最大的经济活动之一。除了以前已知的生产、价格和市场风险,以及后来的金融风险,今天的农业生产者越来越多地面临制度风险和人员管理风险以及与气候变化相关的风险。另一方面,农民可以使用许多工具和策略来抵消威胁并减轻其负面影响。在这些风险管理工具和战略中,作物、牲畜和有形资产的传统/传统保险仍然很重要。在此背景下,本文的基本目标是概括上述保险的理论基础,但仅限于其历史上最古老的方法;因此在新古典微观经济学和古典决策理论的基础上。根据已有的惯例,首先分析了冯·诺伊曼-摩根斯坦期望效用理论/假设的本质。文章最后以农业保险为例,对期望效用理论的假设进行了具体说明。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
自引率
0.00%
发文量
0
期刊最新文献
Crop Minimum Support Price versus Cost Subsidy: Farmer and Consumer Welfare Efficiency and factors for agricultural use of sludge in circular Bulgarian economy COVID-19 Pandemic-Induced Economic in Sri Lanka Eye Impact of COVID-19 Pandemic on Financial Health and Food Security: a Survey-Based Analysis Credit Impact on Agriculture Production in Pakistan
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1