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An expected utility based cost-benefit analysis is in general fragile to its distributional assumptions. We derive necessary and sufficient conditions on the utility function of the expected utility model to avoid this. The conditions ensure that expected (marginal) utility remains finite also...
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This study investigates the short- and long-run impact on population dynamics of the major flood in the Netherlands in 1953. A dynamic difference-in-differences analysis reveals that the flood had an immediate negative impact on population growth, but limited long term effects. In contrast, the...
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in the consumption-income ratio that occur during disaster periods or whether, on the other hand, consumers become more … forward-looking and therefore give more weight to these expectations during disaster times. Our theoretical framework implies … higher during disaster episodes. We check this both for past disasters and the current Covid-19 pandemic through the …
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I study the implications of climate change and adaptation on housing and income, and wealth. I embed climate change in a redistributive growth model by introducing exposure of households and firms to extreme weather events, that damage their housing capital and physical capital, respectively....
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