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All Journal EKSAKTA: Journal of Sciences and Data Analysis Indonesian Journal of Statistics and Its Applications Variance : Journal of Statistics and Its Applications REKA ELKOMIKA: Jurnal Pengabdian kepada Masyarakat
Fajar Indrayatna
Actuarial Science, Department Of Statistics, Universitas Padjadjaran, Indonesia
Chemical Engineering, Chemistry & Bioengineering Chemistry Computer Science & IT Control & Systems Engineering Earth & Planetary Sciences Electrical & Electronics Engineering Industrial & Manufacturing Engineering Materials Science & Nanotechnology Mathematics Other

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Journal : EKSAKTA: Journal of Sciences and Data Analysis

 1 
Utilization Copula in Determination of Shallot Insurance Premium Based on Regional Harvest Results Hasna Afifah Rusyda; Achmad Zabar Soleh; Lienda Noviyanti; Anna Chadidjah; Fajar Indrayatna
EKSAKTA: Journal of Sciences and Data Analysis VOLUME 1, ISSUE 2, August 2020
Publisher : Fakultas Matematika dan Ilmu Pengetahuan Alam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/EKSAKTA.vol1.iss2.art11

Abstract

Abstract: Shallot is one of the highest-yielding horticultural crops in Indonesia and has the tendency to increase the profits of farmers in Indonesia. But until now in Indonesia there is no insurance for horticultural crops other than corn, whereas the shallot farmers face various sources of risk such as weather changes, pest attacks, or other technical factors that ultimately lead to uncertainty of agricultural yields (revenue risk). To overcome this loss, insurance companies can make products based on shallot yields and shallot market prices. Therefore it is essential to grasp the distribution of risk variables (shallot yields and shallot market prices) that interact simultaneously, not separate from one another. Omitting dependencies among risk variables can cause biased risk estimation. Copula can model the non-linear dependencies and can identify the structure of the dependencies between variables. The suitable copula for modeling yield and price risk of shallot is simulated to compute the premium. Result show that clayton copula is suitable for dependence modelling between risk variables.
Co-Authors Achmad Zabar Soleh Achmad Zanbar Soleh Adri Arisena Anindya Apriliyanti Pravitasari Anna Chadidjah Gumgum Darmawan Hasna Afifah Rusyda Intan Nurma Yulita Lienda Noviyanti Mulya Nurmansyah Ardisasmita Mulya Nurmasnsyah Ardisasmita Triyani Hendrawati