Risk Management and the Environment: Agriculture in Perspective

1. Front Matter

   Pages i-xii

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2. Introduction

   1. Risk Management and the Environment in Agriculture: A Key Policy Theme

      • Bruce A. Babcock, Robert W. Fraser, Joseph N. Lekakis

      Pages 1-8

3. Theory

   1. Front Matter

      Pages 9-9

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   2. The State-contingent Approach to Modeling Environmental Risk Management

      • John Quiggin, Robert G. Chambers

      Pages 11-28

   3. The Precautionary Principle in Practice: How to Write a Call Option on the Environment

      • Greg Hertzler

      Pages 29-51

   4. Factors Determining Best Management Practice Adoption Incentives and the Impact of Green Insurance

      • Paul D. Mitchell, David A. Hennessy

      Pages 52-66

   5. Uncertainty and Adoption of Sustainable Farming Systems

      • David J. Pannell

      Pages 67-81

   6. Incentive Design for Introducing Genetically Modified Crops

      • Ross Kingwell

      Pages 82-95

   7. An Economic Risk Assessment of the Impact on Producers of Removing Quarantine Restrictions

      • Robert W. Fraser

      Pages 96-110

4. Case Studies

   1. Front Matter

      Pages 111-111

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   2. Risk Attitudes and Risk Perceptions of Crop Producers in Western Australia

      • Amir K. Abadi Ghadim, David J. Pannell

      Pages 113-133

   3. Valuing Pest Control: How Much is Due to Risk Aversion?

      • Terrance M. Hurley, Bruce A. Babcock

      Pages 134-144

   4. The Influence of Price Risk on Set-aside Choice in the EU

      • Hild Rygnestad, Robert W. Fraser

      Pages 145-160

   5. Production Risks, Acreage Decisions, and Implications for Revenue Insurance Programs

      • JunJie J. Wu, Richard M. Adams

      Pages 161-180

   6. The Effects of Crop Insurance and Disaster Relief Programs on Soil Erosion: The Case of Soybeans and Corn

      • Barry K. Goodwin, Vincent H. Smith

      Pages 181-195

   7. Conclusion

      • Bruce A. Babcock, Robert W. Fraser, Joseph N. Lekakis

      Pages 196-198

5. Back Matter

   Pages 199-204

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Risk Management and the Environment: Agriculture in Perspective is a modern academic work that seeks to bring out both to the private and the policy sectors the importance of risk management in relation to the envi­ ronment in agriculture, as the world moves towards freer markets. Many efforts were pooled together in making this book. Three years ago, an attempt was made by one of the editors to get a project on 'Agri­ cultural Risk Management and Sustainabilty' (ARMAS) funded by the European Commission. Probably deeming the proposal as prematurely novel for Europe, the Commission's screening experts abandoned its evaluation. Following that experience it became apparent that the literature on the theme ought to be strengthened and emphasized through a book by a well known publishing house. The editorial team was formed relatively quickly and an invitation to known experts in the field for contributions was issued. Subsequently, Kluwer Academic Publishers, evaluated an edited volume proposal package, and final revisions were made prior to submitting the entire manuscript for publication. We are gratefully acknowledging the moral support of several individu­ als as well as the patience of our publishers.

• Agricultural Policy
• Risk Assessment
• Risk Management
• agriculture
• environment
• environmental policy
• production

• Center for Agricultural and Rural Development (CARD), Iowa State University, USA

  Bruce A. Babcock

• Imperial College, Wye, UK

  Robert W. Fraser

• University of Western Australia, Australia

  Robert W. Fraser

• Department of Economics, University of Crete, Greece

  Joseph N. Lekakis

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