The large-scale disasters that have occurred since 2001 suggest that we have entered a new era of catastrophes. We are more vulnerable to extreme events as a result of the increasing concentration of population and activities in exposed areas of the country. The question is not whether...

How does catastrophe-risk awareness affect selection patterns in catastrophe insurance markets? Catastrophe insurance is often provided by government entities and frequently involves substantial cross-subsidization between people facing very different levels of risk, which could generate adverse...