期刊
EUROPEAN REVIEW OF AGRICULTURAL ECONOMICS
卷 48, 期 2, 页码 266-314出版社
OXFORD UNIV PRESS
DOI: 10.1093/erae/jbab010
关键词
remote sensing; weather index insurance; soil moisture; risk management; agriculture
资金
- European Union (EU)'s Horizon 2020 research and innovation programme [727520]
- ESA's Climate Change Initiative for Soil Moisture [4000126684/19/I-NB]
- H2020 Societal Challenges Programme [727520] Funding Source: H2020 Societal Challenges Programme
By utilizing satellite-retrieved soil moisture data to design farm individual soil moisture index insurances, crop producers can significantly reduce drought risk exposure, outperforming insurances based on soil moisture estimates from meteorological measurements at ground stations. Insurers and policy makers are encouraged to develop better suited insurances to increase farmers' resilience in a changing climate.
Crop producers face significant and increasing drought risks. We evaluate whether insurances based on globally and freely available satellite-retrieved soil moisture data can reduce farms' financial drought risk exposure. We design farm individual soil moisture index insurances for wheat, maize and rapeseed production using a case study for Eastern Germany. We find that the satellite-retrieved soil moisture index insurances significantly decrease risk exposure for these crops compared to the situation where production is not insured. The satellite-retrieved index also outperforms one based on soil moisture estimates derived from meteorological measurements at ground stations. Important implications for insurers and policy makers are that they could and should develop better suited insurances. Available satellite-retrieved data can be used to increase farmers' resilience in a changing climate.
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