In this paper, we study the optimal self-insurance or insurance activities for a private forest owner against natural hazards. The specificities of natural risks, especially in forest, make indispensable to adjust the standard models of self-insurance and insurance. We develop such a model in...

This article presents the results of an experiment designed to test theoretical predictions about the impact of public compensation schemes and ambiguity on insurance and self-insurance decisions. Consistent with theory, we find that government assistance significantly reduces willingness to pay...

In this article, we estimate the demand of French private forest owners for forest insurance against fire risk. For this purpose, we combine experimental data and real-world data on forest owners’ characteristics. Our econometric approach consists in estimating both insurance participation and...

Windstorms generate windfalls that may lead to price decreases. Studies have often focused on stochastic growth and price, but considered that the link between these two risks was generally nil. In our model, we assume that storms generate windfalls and that these windfalls have an impact on...

In this paper, we propose to analyse the choice of risk management activity made by a non-industrial private forest owner who derives utility from consumption and from the sentimental value of the forest that bears a risk of disaster. We consider a bivariate utility function depending on...

This study proposes an econometric analysis of household fuelwood demand in France. The choice concerning the energy used for heating is modeled, stressing the combination between one type of energy used as a main source and another one used as a back-up. This endogenous decision has an impact...

Cet article propose un modèle théorique (utilité espérée et risque multiplicatif) de choix d’activités de réduction des risques ou d’assurance d’un propriétaire forestier faisant face à un risque de catastrophe naturelle. Notre réflexion part du constat que ces modes de...

The objective of the paper is to analyze the risk management behavior of a non-industrial private forest owner under uncertainty about timber production. Two types of hedging strategies with harvesting decisions are studied: a financial practice versus a physical one. We develop a two-period...