2022
DOI: 10.15408/inprime.v4i2.26238
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Insurance Premium Formulation for Agricultural Commodity Prices

Abstract: This research develops the appropriate formula to determine insurance premiums on agricultural commodity prices that provide coverage to policyholders for losses caused by falling prices. The price component is assumed to follow the Brownian Geometric motion in determining the insurance premiums for agricultural commodity prices. So, through the Ito process, a target price can be selected and is used as a reference to determine whether a claim can be made or not at harvest time. The approach of the Black-Schol… Show more

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