A researcher from Texas A&M University will visit South Dakota State University on Friday for a free seminar on crop insurance.
Agricultural economics associate professor Dmitry Vedenov will present "Approaches to Design of Weather Insurance Contracts Under Data Limitations" from 2 p.m. to 3:30 p.m. at the Avera Health and Science Center.
Vedenov will discuss weather derivatives, which are insurance contracts that protect farmers from losses due to unfavorable weather.
He says weather derivatives have the potential of providing an additional safety net for growers, but practical design of the contracts is often hampered due to the lack of reliable yield data.
Vedenov will spend his morning meeting with economics graduate students to discuss a mathematical modeling structure for addressing risk management issues.
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