On the Edge of the Cornbelt: Some Core-Periphery Economics for Risk Management.
Presented by:
David Hennessy
Department of Economics
Iowa State
Friday, March 24, 2023
12:00 pm-1:15 pm
Taylor-Hibbard Seminar Room (Rm103)
This presentation will be a combination of two papers currently in progress. In lieu of an abstract, the speaker has provided the following: Corn and soybean production in the United States has become concentrated on fertile lands in the North Central region, with a core stretching from southern Minnesota through to northern Indiana. This presentation explores how core-periphery status affects producer risk exposure through price basis risk and the strength of the natural hedge. Crop insurance design issues and the role of storage will be discussed. Some evidence will be presented on whether growers are ambiguity averse rather than risk averse in the expected utility sense.
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