Modeling changes in the U.S. demand for crop insurance during the 1990s

Teresa Serra, Barry K. Goodwin, Allen M. Featherstone

Research output: Contribution to journalReview articlepeer-review


The crop insurance purchase decision for a group of Kansas farmers is analyzed using farm-level data from the 1990s, a period that experienced many changes in the federal crop insurance program. Results indicate a reduction in the elasticity of the demand for crop insurance with respect to premium rates by the end of the decade. The reduction in demand elasticity corresponded with a considerable increase in government subsidies by the end of the 1990s. This result may also reflect the attractiveness of new revenue insurance products which may have made producers less sensitive to premium changes.

Original languageEnglish (US)
Pages (from-to)109-125
Number of pages17
JournalAgricultural Finance Review
Issue number2
StatePublished - Nov 1 2003
Externally publishedYes


  • Crop insurance
  • Demand elasticity
  • Policy changes
  • Premium subsidies
  • Revenue insurance

ASJC Scopus subject areas

  • Agricultural and Biological Sciences (miscellaneous)
  • Economics, Econometrics and Finance (miscellaneous)


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