Insights from the Crop Insurance Reform Act of 1994

Jose, H. Douglas; Valluru, Ram S. K.

doi:10.1002/(sici)1520-6297(199711/12)13:6<587::aid-agr4>3.3.co;2-5

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Figure 3 Indemnity and Disaster Payments Over Time1

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2017

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“…The 1994 FCIR eliminated the use of emergency legislation for agricultural crop disaster assistance, thereby making future disaster payments subject to discretionary spending caps. Together with mandatory catastrophic coverage, these requirements were meant to send a signal that future disaster payments were unlikely (see Jose and Valluru 1997). 13 Congress, however, rescinded the catastrophiccoverage mandate after just 1 year.…”

Section: Figure 3 Indemnity and Disaster Payments Over Timementioning

confidence: 99%

Does the Samaritan's Dilemma Matter? Evidence From U.S. Agriculture

Deryugina

Kirwan

2017

Economic Inquiry

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The Samaritan's dilemma posits a downside to charity: recipients may rely on free aid instead of their own efforts. Anecdotally, the expectation of free assistance is thought to be important for decisions about insurance and risky behavior in numerous settings, but reliable empirical evidence is scarce. We estimate whether the Samaritan's dilemma exists in U.S. agriculture, where both private crop insurance and frequent federal disaster assistance are present. We find that bailout expectations are qualitatively and quantitatively important for the insurance decision. Furthermore, aid expectations reduce both expenditure on farm inputs and subsequent crop revenue. (JEL D72, H84, Q18)

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Section: Figure 3 Indemnity and Disaster Payments Over Timementioning

confidence: 99%