Please use this identifier to cite or link to this item:
|Title:||Protecting Against Disaster Risks: Why Insurance and Prevention May Be Complements|
|Authors:||W. J. Wouter, Botzen|
|Keywords:||Flood Control-Disaster risk reduction funding, विपद जोखिम न्यूनिकरणमा आर्थिक सहायता, financiamiento para la Gestión del Riesgo de Desastre|
|Abstract:||We examine mechanisms as to why insurance and individual risk reduction activities are complements instead of substitutes. Using data on individuals’ flood preparedness activities we find that mechanisms leading to preferred risk selection are related to flood damage experienced in the past and a crowding out effect of federal disaster assistance as well as behavioral motivations to reduce risk. Insurance is a complement to loss reduction measures undertaken well before the threat of suffering a loss, while insurance acts as a substitute for damage mitigation measures that can be purchased when a loss is imminent.|
|Appears in Collections:||Assets and Livelihoods|
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.