Eike Florenz Nordmeyer , Michael Danne , Oliver Musshoff
{"title":"卫星数据能提高农民投保抗旱保险的意愿吗?——来自德国的见解","authors":"Eike Florenz Nordmeyer , Michael Danne , Oliver Musshoff","doi":"10.1016/j.agsy.2023.103718","DOIUrl":null,"url":null,"abstract":"<div><h3>CONTEXT</h3><p>As the demand for index insurance in Europe remains low, the use of satellite-retrieved data has received considerable research attention because it can reduce the basis risk, increase hedging effectiveness and thus potentially increase the attractiveness of index insurance to farmers. However, there is limited knowledge on farmers' demand and specific preferences for satellite-based index insurance.</p></div><div><h3>OBJECTIVE</h3><p>This study aims to obtain initial insights into farmers' preferences for satellite-based index insurance. In particular, farmers' overall preferences for satellite-based compared to precipitation-based index insurance are investigated. The objective is further deepened by investigating the effect of partially subsidizing index insurance. Finally, we focus on differences in preferences caused by the farmer's individual specific factors as this allows to identify the potential target groups for satellite-based index insurance.</p></div><div><h3>METHODS</h3><p>As satellite-based index insurance is still hard to find in Europe, a discrete choice experiment has been conducted with 127 German farmers. In a hypothetical scenario, farmers had to choose whether or not to insure themselves against drought by purchasing hypothetical index insurance products. Specifically, based on a labeled design, they had to choose between a satellite-based and a precipitation-based index insurance, or could choose not to use either alternative (opt-out). We include other insurance attributes such as premium, strike level and payout as they were rated as important by the farmers.</p></div><div><h3>RESULTS AND CONCLUSION</h3><p>Mixed logit model results show a preference for both index insurance products against no insurance. Particularly, the average farmer has a statistically significant higher preference for the satellite-based index insurance. In addition, subsidizing satellite-based index insurance has a higher effect on farmers' preferences. Moreover, the latent class model identifies heterogeneous preferences among farmers. Insurers can be advised to incorporate satellite data into the design of index insurance. By integrating them into existing index insurance products or by developing purely satellite-based index insurance, insurers could tailor index insurance better to farmers' preferences. Policymakers can be advised that farmers are differentially sensitive to subsidies. Especially farmers with a stronger preference for the satellite-based index insurance derive a huge increase in utility from subsidies.</p></div><div><h3>SIGNIFICANCE</h3><p>The study provides initial insights into farmers' preferences for satellite-based index insurance that can guide insurers regarding the design of index insurance products and give policymakers insights into how governmental support would change farmers' demand for index insurance.</p></div>","PeriodicalId":7730,"journal":{"name":"Agricultural Systems","volume":"211 ","pages":"Article 103718"},"PeriodicalIF":6.1000,"publicationDate":"2023-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Can satellite-retrieved data increase farmers' willingness to insure against drought? – Insights from Germany\",\"authors\":\"Eike Florenz Nordmeyer , Michael Danne , Oliver Musshoff\",\"doi\":\"10.1016/j.agsy.2023.103718\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><h3>CONTEXT</h3><p>As the demand for index insurance in Europe remains low, the use of satellite-retrieved data has received considerable research attention because it can reduce the basis risk, increase hedging effectiveness and thus potentially increase the attractiveness of index insurance to farmers. However, there is limited knowledge on farmers' demand and specific preferences for satellite-based index insurance.</p></div><div><h3>OBJECTIVE</h3><p>This study aims to obtain initial insights into farmers' preferences for satellite-based index insurance. In particular, farmers' overall preferences for satellite-based compared to precipitation-based index insurance are investigated. The objective is further deepened by investigating the effect of partially subsidizing index insurance. Finally, we focus on differences in preferences caused by the farmer's individual specific factors as this allows to identify the potential target groups for satellite-based index insurance.</p></div><div><h3>METHODS</h3><p>As satellite-based index insurance is still hard to find in Europe, a discrete choice experiment has been conducted with 127 German farmers. In a hypothetical scenario, farmers had to choose whether or not to insure themselves against drought by purchasing hypothetical index insurance products. Specifically, based on a labeled design, they had to choose between a satellite-based and a precipitation-based index insurance, or could choose not to use either alternative (opt-out). We include other insurance attributes such as premium, strike level and payout as they were rated as important by the farmers.</p></div><div><h3>RESULTS AND CONCLUSION</h3><p>Mixed logit model results show a preference for both index insurance products against no insurance. Particularly, the average farmer has a statistically significant higher preference for the satellite-based index insurance. In addition, subsidizing satellite-based index insurance has a higher effect on farmers' preferences. Moreover, the latent class model identifies heterogeneous preferences among farmers. Insurers can be advised to incorporate satellite data into the design of index insurance. By integrating them into existing index insurance products or by developing purely satellite-based index insurance, insurers could tailor index insurance better to farmers' preferences. Policymakers can be advised that farmers are differentially sensitive to subsidies. Especially farmers with a stronger preference for the satellite-based index insurance derive a huge increase in utility from subsidies.</p></div><div><h3>SIGNIFICANCE</h3><p>The study provides initial insights into farmers' preferences for satellite-based index insurance that can guide insurers regarding the design of index insurance products and give policymakers insights into how governmental support would change farmers' demand for index insurance.</p></div>\",\"PeriodicalId\":7730,\"journal\":{\"name\":\"Agricultural Systems\",\"volume\":\"211 \",\"pages\":\"Article 103718\"},\"PeriodicalIF\":6.1000,\"publicationDate\":\"2023-10-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Agricultural Systems\",\"FirstCategoryId\":\"97\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0308521X23001233\",\"RegionNum\":1,\"RegionCategory\":\"农林科学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"AGRICULTURE, MULTIDISCIPLINARY\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Agricultural Systems","FirstCategoryId":"97","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0308521X23001233","RegionNum":1,"RegionCategory":"农林科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"AGRICULTURE, MULTIDISCIPLINARY","Score":null,"Total":0}
Can satellite-retrieved data increase farmers' willingness to insure against drought? – Insights from Germany
CONTEXT
As the demand for index insurance in Europe remains low, the use of satellite-retrieved data has received considerable research attention because it can reduce the basis risk, increase hedging effectiveness and thus potentially increase the attractiveness of index insurance to farmers. However, there is limited knowledge on farmers' demand and specific preferences for satellite-based index insurance.
OBJECTIVE
This study aims to obtain initial insights into farmers' preferences for satellite-based index insurance. In particular, farmers' overall preferences for satellite-based compared to precipitation-based index insurance are investigated. The objective is further deepened by investigating the effect of partially subsidizing index insurance. Finally, we focus on differences in preferences caused by the farmer's individual specific factors as this allows to identify the potential target groups for satellite-based index insurance.
METHODS
As satellite-based index insurance is still hard to find in Europe, a discrete choice experiment has been conducted with 127 German farmers. In a hypothetical scenario, farmers had to choose whether or not to insure themselves against drought by purchasing hypothetical index insurance products. Specifically, based on a labeled design, they had to choose between a satellite-based and a precipitation-based index insurance, or could choose not to use either alternative (opt-out). We include other insurance attributes such as premium, strike level and payout as they were rated as important by the farmers.
RESULTS AND CONCLUSION
Mixed logit model results show a preference for both index insurance products against no insurance. Particularly, the average farmer has a statistically significant higher preference for the satellite-based index insurance. In addition, subsidizing satellite-based index insurance has a higher effect on farmers' preferences. Moreover, the latent class model identifies heterogeneous preferences among farmers. Insurers can be advised to incorporate satellite data into the design of index insurance. By integrating them into existing index insurance products or by developing purely satellite-based index insurance, insurers could tailor index insurance better to farmers' preferences. Policymakers can be advised that farmers are differentially sensitive to subsidies. Especially farmers with a stronger preference for the satellite-based index insurance derive a huge increase in utility from subsidies.
SIGNIFICANCE
The study provides initial insights into farmers' preferences for satellite-based index insurance that can guide insurers regarding the design of index insurance products and give policymakers insights into how governmental support would change farmers' demand for index insurance.
期刊介绍：
Agricultural Systems is an international journal that deals with interactions - among the components of agricultural systems, among hierarchical levels of agricultural systems, between agricultural and other land use systems, and between agricultural systems and their natural, social and economic environments.
The scope includes the development and application of systems analysis methodologies in the following areas:
Systems approaches in the sustainable intensification of agriculture; pathways for sustainable intensification; crop-livestock integration; farm-level resource allocation; quantification of benefits and trade-offs at farm to landscape levels; integrative, participatory and dynamic modelling approaches for qualitative and quantitative assessments of agricultural systems and decision making;
The interactions between agricultural and non-agricultural landscapes; the multiple services of agricultural systems; food security and the environment;
Global change and adaptation science; transformational adaptations as driven by changes in climate, policy, values and attitudes influencing the design of farming systems;
Development and application of farming systems design tools and methods for impact, scenario and case study analysis; managing the complexities of dynamic agricultural systems; innovation systems and multi stakeholder arrangements that support or promote change and (or) inform policy decisions.
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