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The Impact of a Government Risk Pool and an Opt-Out Framing on Demand for Earthquake Protection
Kunreuther, Howard; Conell-Price, Lynn; Kovacs, Paul; … - National Bureau of Economic Research - 2021
This paper describes the design and analysis of a web-based choice experiment that examines how the demand for earthquake protection in Quebec and British Columbia is influenced by the default option and the structure of the insurance plan. Homeowners in both provinces were given the opportunity...
Persistent link: https://www.econbiz.de/10012616592
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A General Rationale for a Governmental Role in the Relief of Large Risks
Shavell, Steven - 2014
The government often provides relief against large risks, such as disasters. A simple, general rationale for this role of government is considered here that applies even when private contracting to share risks is not subject to market imperfections. Specifically, the optimal private sharing of...
Persistent link: https://www.econbiz.de/10012458472
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Mitigating Disaster Risks to Sustain Growth
Hong, Harrison - 2020
We provide the planner's solution to a model where households learn from exogenous natural disaster arrivals about arrival rates and spend to mitigate future damages. Mitigation cannot be decentralized due to positive externalities from curtailing aggregate risks. First-best can be implemented...
Persistent link: https://www.econbiz.de/10012482023
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Structural Uncertainty and the Value of Statistical Life in the Economics of Catastrophic Climate Change
Weitzman, Martin - 2007
Using climate change as a prototype motivating example, this paper analyzes the implications of structural uncertainty for the economics of low-probability high-impact catastrophes. The paper shows that having an uncertain multiplicative parameter, which scales or amplifies exogenous shocks and...
Persistent link: https://www.econbiz.de/10012465156
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Climate Risks and FDI
Gu, Grace Weishi; Hale, Galina - National Bureau of Economic Research - 2022
Climate-related risks have increased in recent decades, both in terms of the frequency of extreme weather events (physical risk) and implementation of climate-change mitigation policies (transition risk). This paper explores whether multinational firms react to such risks by altering their...
Persistent link: https://www.econbiz.de/10013388808
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Mortgage Finance in the Face of Rising Climate Risk
Ouazad, Amine - 2019
Recent evidence suggests an increasing risk of natural disasters of the magnitude of hurricane Katrina and Sandy. Concurrently, the number and volume of flood insurance policies has been declining since 2008. Hence, households who have purchased a house in coastal areas may be at increasing risk...
Persistent link: https://www.econbiz.de/10012480267
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Aiding Decision-Making to Reduce the Impacts of Climate Change
Kunreuther, Howard - 2014
Utilizing theory and empirical insights from psychology and behavioral economics, this paper examines individuals' cognitive and motivational barriers to adopting climate change adaptation and mitigation measures that increase consumer welfare. We explore various strategies that take into...
Persistent link: https://www.econbiz.de/10012458873
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How Are Insurance Markets Adapting to Climate Change? Risk Selection and Regulation in the Market for Homeowners Insurance
Boomhower, Judson; Fowlie, Meredith; Gellman, Jacob; … - National Bureau of Economic Research - 2024
As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to aid recovery when disasters strike. To perform these functions efficiently, insurers need to access high quality information about disaster risk and set prices that accurately...
Persistent link: https://www.econbiz.de/10014576654
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Targeting High School Scholarships to the Poor : The Impact of a Program in Mexico
De Hoyos, Rafael - 2019
This paper uses an RCT to estimate the impact of PROBEMS, a scholarship program in Mexico aimed at improving graduation …
Persistent link: https://www.econbiz.de/10012479972
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Globalization, Labor Income, and Poverty in Mexico
Hanson, Gordon H. - 2005
In this paper, I examine changes in the distribution of labor income across regions of Mexico during the country …-exposure states by 10% and the incidence of wage poverty (the fraction of wage earners whose labor income would not sustain a family … of four at above-poverty consumption levels) in low-exposure states increased relative to high-exposure states by 7% …
Persistent link: https://www.econbiz.de/10012467660