We study the impact of the Fukushima disaster on environmental concerns, well-being, risk aversion, and political preferences in Germany, Switzerland, and the UK. In these countries, overall life satisfaction did not significantly decrease, but the disaster significantly increased environmental...

This paper provides an overview on the existing systems of natural hazards insurance in Europe, their structural characteristics and peculiarities. It also discusses the difficulties of an adaptation of these systems to climate change and a growing number of natural disasters. Using the case of...

This paper deals with the effect of (i) damage experience from extreme weather events and (ii) expectations concerning future climate change on subjective wellbeing (SWB). We use data of a large representative survey amongst German households. The effect of experienced weather events on SWB of...

Individual risk preference may change after experiencing external socio-economic or natural shocks. Theoretical predictions and empirical studies suggest that risk taking may increase or decrease after experiencing shocks. So far the empirical evidence is sparse, especially when it comes to...

In the course of the ongoing process of climate change, natural disasters like storms, floods and droughts become more likely and/or more severe. While there is a growing macroeconomic literature on the growth-effects of natural disasters, little is yet known about the microeconomic channels...

This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany's nuclear reactors while...

The perception of risks resulting from climate change is a key factor in motivating individual adaptation and prevention behavior, as well as for the support of climate policy measures. Using a generalized ordered logit approach and drawing on a unique data set originating from two surveys...

Individual risk preference may change after experiencing external socio-economic or natural shocks. Theoretical predictions and empirical studies suggest that risk taking may increase or decrease after experiencing shocks. So far the empirical evidence is sparse, especially when it comes to...

Wie schon die Hochwasserereignisse 2002 und 2013 haben auch die Folgen der Flutkatastrophe im Juli 2021 dramatisch die Notwendigkeit von gesellschaftlichen Klimaanpassungsstrategien in Deutschland aufgezeigt. Bund und Länder haben zum dritten Mal eine Arbeitsgruppe mit der...

This paper discusses the problem of crowding out of insurance by co-existing governmental relief programs - so-called 'charity hazard' - in a context of different institutional schemes of governmental relief in Austria and Germany. We test empirically whether an assured partial relief scheme (as...