摘要：The paper discusses a methodology for design and pricing of index insurancecontracts for crop production. The methodology heavily relies on establishinga relationship between the index and yields in order to evaluate the contractperformance in hedging farmers' risk. However, analysis of yield/rainfall dataseries for Iowa corn and Kansas wheat fail to produce a reliable and meaningfulrelationship which can be used uniformly across several counties and/or cropproducing districts. Further research is needed as to applicability of rainfallinsurance to specific crop/region combinations.
关键词：risk management; weather derivatives; index contracts; crop in-;surance
