Date: Feb 23th, Thursday
Time: 3:00 pm
Place: Little 339 (the Atrium)
Speaker: Juan Liu

Title: CVaR Model for Optimizing Crop Insurance under Climate Variability

Abstract: We study the application of the Conditional Value-at-Risk
(CVaR) in the crop insurance industry under climate variability. We
designed a model to help farmers decide about buying crop insurance products to
reduce climate and price risks. The objective is to minimize farmers
return losses, while using CVaR to control the risk aversion level. We
illustrate the application of the model by studying a farm with two crops
(cotton and peanut) in Jackson Co., FL.