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Open access
Date
2020Type
- Journal Article
Abstract
Climate change increases the need for better insurance solutions that enable farmers to cope with drought risks. We design weather index insurance using drought indices based on precipitation, soil moisture and evapotranspiration as underlying drought index and compare their risk-reducing potential for winter wheat producers in Eastern Germany. In general, we find that all drought indices can reduce financial risk exposure. However, the largest risk reduction can be achieved if the underlying drought index is tailored individually for each farm. This implies that insurers should offer insurance with farm-specific underlying drought index. Show more
Permanent link
https://doi.org/10.3929/ethz-b-000440847Publication status
publishedExternal links
Journal / series
European Review of Agricultural EconomicsPages / Article No.
Publisher
Oxford University PressOrganisational unit
09564 - Finger, Robert / Finger, Robert
Funding
727520-2 - Towards SUstainable and REsilient EU FARMing systems (EC)
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