摘要：This report analyzes farmers' choice of crop insurance contracts and tests for thepresence of asymmetric information in the market for multiple yield and revenueinsurance products. Farmers' risk characteristics, their level of income, and the costof insurance significantly affect their choices of yield and revenue insurance prod-ucts as well as their selections of alternative coverage levels. Empirical analysisindicates that, in the presence of asymmetric information, high-risk farmers aremore likely to select revenue insurance contracts and higher coverage levels. Theresults also indicate that premium rates do not accurately reflect the likelihood oflosses, implying asymmetrical information in the crop insurance market.
