Income allocation of ‘insurance + futures’ with risk modified Shapley value method

‘Insurance + futures’, a new agricultural cooperation mode in China, fails to guarantee a fair and reasonable income allocation among core stakeholders which hinders the rapid promotion of this pilot project. By using Shapley value method based on the idea of ‘income allocation matches contribution’, this article suggests an income allocation scheme for farmers, insurance institutions and futures institutions. After using AHP and fuzzy mathematics evaluation method to calculate risk sharing coefficients for three parties to get modified parameters, a risk modified income allocation scheme is developed. Compared with the income allocation scheme based on equal risk sharing, this scheme can fully meet the interest demands of three parties and provide reference for the sustainable development of the mode.