... is to investigate how a reduction in water quotas and increased water prices affect risk‐efficient crop choices and the related economic implications for northern German farmers. Design/methodology/approach The authors apply a whole‐farm risk programming approach to a typical arable farm in northern Germany...

.... © Emerald Group Publishing Limited 2013 Germany Arable farming Hedging Weather derivatives Hedging effectiveness Basis risk Simple index Mixed index In the agricultural sector, weather is an integral and uncontrollable production factor. Since the beginning of agricultural...