RECENT TRENDS AFFECTING FARM AND RURAL BUSINESS FINANCE

Agricultural Finance,

Farmers' Subjective Yield Distributions: Calibration and Implications for Crop Insurance Valuation

This paper examines the role of overconfidence in explaining farmer crop insurance purchasing decisions. The authors hypothesize that overconfidence could influence the participation decision and test this hypothesis. The preliminary results indicate that farmers are overconfident; however, the relationship between overconfidence and the insurance use remains uncertain.Risk and Uncertainty,

The Silhavy Corridor Improvement Project

The City of Valparaiso, Indiana is considering various alternatives to improve safety and efficiency at the existing signalized intersection at Silhavy Road and LaPorte Avenue. One of these alternatives is to construct a multi-lane roundabout. However, a large amount of space is required for the construction of a multi-lane roundabout. In an already heavily developed area, space is a major constraint. The city is also proposing improvements along Silhavy Road north and south of the intersection to enhance traffic flow in the area. The first goal of this research project was to determine if an appropriately sized roundabout would fit into the available space. The second objective was to study improvements in traffic conditions in the area due to the proposed roundabout at Silhavy Road and LaPorte Avenue and capacity enhancement measures along the Silhavy Road corridor. A two-lane roundabout that will fit into the available space and handle the traffic demand was designed. Using traffic simulation software, the delay was measured for both the current signalized intersection and for the proposed two-lane roundabout. The results showed a significant reduction in delay at the intersection due to the roundabout. This benefit is in addition to the safer conditions of a roundabout over a signalized intersection

INCOME AND CAPITALIZATION RATE RISK IN AGRICULTURAL REAL ESTATE MARKETS

Farmland Prices, Farmland Returns, Capitalization Rates, Risk, Asset Bubbles, Land Economics/Use, Q14,

Valuation and Efficient Allocation of GSM Export Credit Guarantees

Estimates of country-level loan default distributions are developed and used in a loan guarantee model to value the contingent liability of USDA's General Sales Manager (GSM) export credit guarantee portfolio. The results quantify the relationship between increasing guarantee coverage and the resulting actuarial liability to the government. Optimal coverage levels and optimal country-level allocations are determined for given policy objectives and coverage totals. Findings reveal that the government's allocation of country guarantees is risk-inefficient; and guidance is provided for making risk-efficient allocations for any program size.contingent liability, export credit, GSM, loan guarantee valuation, risk efficiency, Agricultural Finance,

The Effects of Eastern versus Western Cultures on Women\u27s Perceptions and Disclosure of Mental Illness

Mental illnesses and the stigma that surrounds them have caused societal unrest since the development of the modern human. However, there remain differences in the way individuals perceive mental illness, allowing various levels of stigma to arise. The focus of this research is to determine the contrast between the views of Western and Eastern cultures concerning mental health status - exploring how cultural expectations for women affect their perception, and disclosure, of mental illnesses. This research involves studies that examined societal expectations for Western and Eastern cultures, and experiments measuring the perceptions of mental illness from individuals with various heritages. Articles concentrating on the factors that influence one’s disclosure of mental illness were included, as well. My research has discovered that there is a strong correlation between culture and one’s perception of mental illness. Western cultures are more likely to embrace, and thus, treat psychological ailments, due to the increased levels of social acceptance and available treatment options. Eastern cultures, however, are less likely to seek treatment or disclose their mental state at all, because of the social stigma associated with having a mental illness. More intensive research must be completed to determine the direct implications upon women. Uncovering the principal reasons for the existing stigma will expose it directly, and create opportunities for populations to become educated on the realities of mental illness. This will allow for disorders of this caliber to be more widely accepted, and thus, cause the social stigma associated with them to eventually dissipate.https://scholarscompass.vcu.edu/uresposters/1214/thumbnail.jp

Measuring the Credit Risk of AgriBank Loans under the New Basel Capital Accord: A Logit Regression Approach

Financial Economics, Q21, G21,

Fun Versus Meaningful Video Game Experiences: A Qualitative Analysis of User Responses

Emerging research on video games has suggested that feelings of both enjoyment and meaningfulness can be elicited from gameplay. Studies have shown enjoyment and meaningfulness evaluations to be associated with discrete elements of video games (ratings of gameplay and narrative, respectively), but have relied on closed-end data analysis. The current study analyzed participants’ open-ended reviews of either their “most fun” or “most meaningful” video game experience (N = 575, randomly assigned to either condition). Results demonstrated that “fun” games were explained in terms of gameplay mechanics, and “meaningful” games were explained in terms of connections with players and in-game characters

CROP INSURANCE VALUATION UNDER ALTERNATIVE YIELD DISTRIBUTIONS

Considerable disagreement exists about the most appropriate characterization of farm-level yield distributions. Yet, the economic importance of alternate yield distribution specifications on insurance valuation, product designs and farm-level risk management has not been investigated or documented. The results of this study demonstrate that large differences in expected payments from popular crop insurance products can arise solely from the parameterization chosen to represent yields. The results suggest that the frequently unexamined yield distribution specification may lead to incorrect conclusions in important areas of insurance and risk management research such as policy rating, and assessment of expected payments from policies.Risk and Uncertainty,