Agricultural product price index insurance is a kind of index insurance. It avoids defects of traditional agricultural insurance,such as moral hazards,adverse selection,and high management cost. On the basis of studyi...Agricultural product price index insurance is a kind of index insurance. It avoids defects of traditional agricultural insurance,such as moral hazards,adverse selection,and high management cost. On the basis of studying agricultural product price index insurance of all areas of China,this paper analyzed characteristics of agricultural product price index insurance from object selection,product object,premium design,and policy support,and discussed feasibility of extending agricultural product price index insurance in an all-round way.展开更多
This paper first gives an explanation of moral hazard in the insurance field,and then offers a game theory model about insurance pricing according to the non zero sum game analysis between the insurer and the insured...This paper first gives an explanation of moral hazard in the insurance field,and then offers a game theory model about insurance pricing according to the non zero sum game analysis between the insurer and the insured when moral hazard exists.On the basis of the game analysis,this paper also presents a lowest pricing formula and studies the cost of moral hazard simultaneously.展开更多
In this paper, by analysing relationship between insurance premium and insurance compensation, the derivative assets pricing theory and the partial differential equation are used to studythe pricing of insurance prod...In this paper, by analysing relationship between insurance premium and insurance compensation, the derivative assets pricing theory and the partial differential equation are used to studythe pricing of insurance products and establish insurance price models. In addition, insurance priceformulas for several general insurance types are also presented. The insurance pricing method thatis given in the paper doesn't depend on mortality ratio and the probability distribution of losses.It is an obvious difference between the insurance pricing method in the paper and the traditionalinsurance pricing methods. Thereby, this paper serves to develop a insurance pricing method, andhas important practical or immediate significance. Finally, the application of the method is given.展开更多
There is an increasing demand for feed as the industrialization of hog production in China. Land scarcity limits China＇s ability to continue increasing its hog production without feed imports, particularly soybean, a...There is an increasing demand for feed as the industrialization of hog production in China. Land scarcity limits China＇s ability to continue increasing its hog production without feed imports, particularly soybean, and the feed markets are increasingly integrated into the global market. This study performs an analysis of price transmission between the hog price in China and feed prices, specifically domestic maize price and international soybean price, from January 2000 to April 2014. We identified a long-term stable equilibrium relationship between the three markets. However, further analyses show that there is no significant Granger causality between hog and feed market, and the long-run equilibrium partially results from Granger causality between the international soybean market and domestic maize market. This suggests that the domestic hog market has been distorted by different policies. The results also indicate that the efficiency of price transmission is very low and it takes about 11 months to correct one-half of any long-run disequilibrium for the hog market in China. Therefore, to stabilize hog price in China, only market intervention to regulate the maize and soybean markets would be insufficient and comprehensive measures need to be taken into account such as hog production modernization, agricultural insurance, epidemic surveillance etc.展开更多
It is a long-term strategic task for China to cope with the aging population and declining birthrate. Therefore, our country has begun to gradually establish our long-term care security system, and the pricing problem...It is a long-term strategic task for China to cope with the aging population and declining birthrate. Therefore, our country has begun to gradually establish our long-term care security system, and the pricing problem of long-term care insurance has gradually attracted the attention of academic circles. The pricing model and nursing demand of long-term care insurance have been repeatedly discussed and studied, and many useful conclusions have been formed. However, in terms of rates, the rates of both commercial long-term care insurance and policy products are on the high side. At present, the price of commercial long-term care insurance is high. Although the price of policy-oriented products is low, the level of protection is also low, which cannot provide sufficient protection. This study explores the introduction of capping line into long-term care insurance to reduce the rate level of long-term care insurance. Using the existing state transition matrix, through empirical research, the pricing of long-term care insurance with capping line is made in order to provide suggestions for the development of long-term care insurance.展开更多
Farmers'assessments of risk management strategies and how the assessments influence their willingness to adopt these strategies are poorly understood.This study conducts a structured survey of 469 farmers to inves...Farmers'assessments of risk management strategies and how the assessments influence their willingness to adopt these strategies are poorly understood.This study conducts a structured survey of 469 farmers to investigate how farmers assess both crop insurance and crop price insurance,the impact of the assessments on their adoption willingness,and in particular,the differences in assessments and adoption willingness between crop insurance and crop price insurance.Empirical results show that farmers’assessments on crop insurance can be significantly improved through communication and experience.The most effective way to improve farmers'assessments on crop price insurance is providing adequate information about the insurance products.Furthermore,farmers'adoption willingness would be enhanced by improved assessment of both crop yield and crop price insurance.This study provides the first empirical evidence that farmers have limited information to assess insurance,which significantly influences their willingness to adopt.This finding reflects that the dissemination of insurance policies,the effectiveness of insurance,and the availability of insurance services significantly enable farmers'ability to assess risk management strategies,which potentially increases farmers'willingness to adopt insurance.展开更多
China is now home to more than 200 million people above the age of60.Generally,the elderly are either supported by their children or live on pensions.In recent years,a new idea for senior care,the house for pension sc...China is now home to more than 200 million people above the age of60.Generally,the elderly are either supported by their children or live on pensions.In recent years,a new idea for senior care,the house for pension scheme,has become a hot topic.展开更多
基金Supported by the National Social Science Foundation of China(16BJY136) in 2016the Consultant Project of Chinese Academy of Engineering(07-XY-003) in 2015
文摘Agricultural product price index insurance is a kind of index insurance. It avoids defects of traditional agricultural insurance,such as moral hazards,adverse selection,and high management cost. On the basis of studying agricultural product price index insurance of all areas of China,this paper analyzed characteristics of agricultural product price index insurance from object selection,product object,premium design,and policy support,and discussed feasibility of extending agricultural product price index insurance in an all-round way.
文摘This paper first gives an explanation of moral hazard in the insurance field,and then offers a game theory model about insurance pricing according to the non zero sum game analysis between the insurer and the insured when moral hazard exists.On the basis of the game analysis,this paper also presents a lowest pricing formula and studies the cost of moral hazard simultaneously.
文摘In this paper, by analysing relationship between insurance premium and insurance compensation, the derivative assets pricing theory and the partial differential equation are used to studythe pricing of insurance products and establish insurance price models. In addition, insurance priceformulas for several general insurance types are also presented. The insurance pricing method thatis given in the paper doesn't depend on mortality ratio and the probability distribution of losses.It is an obvious difference between the insurance pricing method in the paper and the traditionalinsurance pricing methods. Thereby, this paper serves to develop a insurance pricing method, andhas important practical or immediate significance. Finally, the application of the method is given.
基金the sponsorship of German Research Foundation(RTG1666)A Project Funded by the Priority Academic Program Development of Jiangsu Higher Education Institutions(PAPD),Chinathe National Natural Science Foundation of China(71173110)
文摘There is an increasing demand for feed as the industrialization of hog production in China. Land scarcity limits China＇s ability to continue increasing its hog production without feed imports, particularly soybean, and the feed markets are increasingly integrated into the global market. This study performs an analysis of price transmission between the hog price in China and feed prices, specifically domestic maize price and international soybean price, from January 2000 to April 2014. We identified a long-term stable equilibrium relationship between the three markets. However, further analyses show that there is no significant Granger causality between hog and feed market, and the long-run equilibrium partially results from Granger causality between the international soybean market and domestic maize market. This suggests that the domestic hog market has been distorted by different policies. The results also indicate that the efficiency of price transmission is very low and it takes about 11 months to correct one-half of any long-run disequilibrium for the hog market in China. Therefore, to stabilize hog price in China, only market intervention to regulate the maize and soybean markets would be insufficient and comprehensive measures need to be taken into account such as hog production modernization, agricultural insurance, epidemic surveillance etc.
文摘It is a long-term strategic task for China to cope with the aging population and declining birthrate. Therefore, our country has begun to gradually establish our long-term care security system, and the pricing problem of long-term care insurance has gradually attracted the attention of academic circles. The pricing model and nursing demand of long-term care insurance have been repeatedly discussed and studied, and many useful conclusions have been formed. However, in terms of rates, the rates of both commercial long-term care insurance and policy products are on the high side. At present, the price of commercial long-term care insurance is high. Although the price of policy-oriented products is low, the level of protection is also low, which cannot provide sufficient protection. This study explores the introduction of capping line into long-term care insurance to reduce the rate level of long-term care insurance. Using the existing state transition matrix, through empirical research, the pricing of long-term care insurance with capping line is made in order to provide suggestions for the development of long-term care insurance.
基金the National Natural Science Foundation of China(72171099,71771101 and 71673103)the Fundamental Research Funds for the Central Universities,China(2662020JGPYR04).
文摘Farmers'assessments of risk management strategies and how the assessments influence their willingness to adopt these strategies are poorly understood.This study conducts a structured survey of 469 farmers to investigate how farmers assess both crop insurance and crop price insurance,the impact of the assessments on their adoption willingness,and in particular,the differences in assessments and adoption willingness between crop insurance and crop price insurance.Empirical results show that farmers’assessments on crop insurance can be significantly improved through communication and experience.The most effective way to improve farmers'assessments on crop price insurance is providing adequate information about the insurance products.Furthermore,farmers'adoption willingness would be enhanced by improved assessment of both crop yield and crop price insurance.This study provides the first empirical evidence that farmers have limited information to assess insurance,which significantly influences their willingness to adopt.This finding reflects that the dissemination of insurance policies,the effectiveness of insurance,and the availability of insurance services significantly enable farmers'ability to assess risk management strategies,which potentially increases farmers'willingness to adopt insurance.
文摘China is now home to more than 200 million people above the age of60.Generally,the elderly are either supported by their children or live on pensions.In recent years,a new idea for senior care,the house for pension scheme,has become a hot topic.
