Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model
During the process of jujube planting, there are not only natural risks caused by natural disasters but also market risks caused by price factors. In the study, firstly, wavelet analysis method was used to stabilize the jujube yield per unit area and the jujube price from 1997 to 2018 in Aksu region...
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| Main Authors: | , , , , , , |
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| Format: | Article |
| Language: | English |
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Wiley
2021-01-01
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| Series: | Journal of Mathematics |
| Online Access: | http://dx.doi.org/10.1155/2021/9959638 |
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| author | Li-Mei Qi Ruo-Yu Yao Xing-Zhe Zhang Yu-Jing Zhang Xiao-Yin Wang Jian-Ping Tao Jia-Ming Zhu |
| author_facet | Li-Mei Qi Ruo-Yu Yao Xing-Zhe Zhang Yu-Jing Zhang Xiao-Yin Wang Jian-Ping Tao Jia-Ming Zhu |
| author_sort | Li-Mei Qi |
| collection | DOAJ |
| description | During the process of jujube planting, there are not only natural risks caused by natural disasters but also market risks caused by price factors. In the study, firstly, wavelet analysis method was used to stabilize the jujube yield per unit area and the jujube price from 1997 to 2018 in Aksu region, Xinjiang, China. Secondly, EasyFit software was used to fit the distribution functions of yield per unit area and price, respectively. Thirdly, the optimal Copula function which connects the marginal distribution functions and its joint distribution function was selected with the principle of “the minimum square distance from the empirical Copula function.” Finally, taking the premium rate and the insurance amount as two decision variables, the farmer’s risk minimization as the objective function, around the four constraints of functions and role of insurance, the nonspeculative nature of insurance, the sustainability of insurance, and the moral hazard factors and the farmers’ willing to participate in insurance, the Copula-stochastic optimization model was set up to determine the premium rate of jujube revenue insurance in Aksu region. |
| format | Article |
| id | doaj-art-994e4c5c4c2e43d8a493363353e3cc50 |
| institution | Kabale University |
| issn | 2314-4629 2314-4785 |
| language | English |
| publishDate | 2021-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Journal of Mathematics |
| spelling | doaj-art-994e4c5c4c2e43d8a493363353e3cc502025-02-03T06:47:04ZengWileyJournal of Mathematics2314-46292314-47852021-01-01202110.1155/2021/99596389959638Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization ModelLi-Mei Qi0Ruo-Yu Yao1Xing-Zhe Zhang2Yu-Jing Zhang3Xiao-Yin Wang4Jian-Ping Tao5Jia-Ming Zhu6College of Economics and Management, Huazhong Agricultural University, Wuhan 430070, ChinaSchool of Mathematical Sciences, Tiangong University, Tianjin 300387, ChinaSchool of Computer Science and Technology, Tiangong University, Tianjin 300387, ChinaSchool of Mathematical Sciences, Tiangong University, Tianjin 300387, ChinaSchool of Mathematical Sciences, Tiangong University, Tianjin 300387, ChinaCollege of Economics and Management, Huazhong Agricultural University, Wuhan 430070, ChinaSchool of Statistics and Applied Mathematics, Anhui University of Finance & Economics, Bengbu 233030, ChinaDuring the process of jujube planting, there are not only natural risks caused by natural disasters but also market risks caused by price factors. In the study, firstly, wavelet analysis method was used to stabilize the jujube yield per unit area and the jujube price from 1997 to 2018 in Aksu region, Xinjiang, China. Secondly, EasyFit software was used to fit the distribution functions of yield per unit area and price, respectively. Thirdly, the optimal Copula function which connects the marginal distribution functions and its joint distribution function was selected with the principle of “the minimum square distance from the empirical Copula function.” Finally, taking the premium rate and the insurance amount as two decision variables, the farmer’s risk minimization as the objective function, around the four constraints of functions and role of insurance, the nonspeculative nature of insurance, the sustainability of insurance, and the moral hazard factors and the farmers’ willing to participate in insurance, the Copula-stochastic optimization model was set up to determine the premium rate of jujube revenue insurance in Aksu region.http://dx.doi.org/10.1155/2021/9959638 |
| spellingShingle | Li-Mei Qi Ruo-Yu Yao Xing-Zhe Zhang Yu-Jing Zhang Xiao-Yin Wang Jian-Ping Tao Jia-Ming Zhu Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model Journal of Mathematics |
| title | Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model |
| title_full | Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model |
| title_fullStr | Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model |
| title_full_unstemmed | Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model |
| title_short | Research on Revenue Insurance Premium Ratemaking of Jujube Based on Copula-Stochastic Optimization Model |
| title_sort | research on revenue insurance premium ratemaking of jujube based on copula stochastic optimization model |
| url | http://dx.doi.org/10.1155/2021/9959638 |
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