Flooding is one of the most dangerous natural hazards worldwide, causing widespread economic damage in coastal areas, thousands of deaths and injuries, and displacing millions of people every year. Individual homeowners can take a number of measures …
This paper presents a lab-in-the-field experiment with 2111 Dutch homeowners in floodplain areas to examine the impacts of financial incentives and behavioral motivations for self-insurance under different flood insurance schemes. We experimentally …
In a world in which economic losses due to natural disasters are expected to increase, it is important to study risk reduction strategies, including individual investments of homeowners in damage reducing (mitigation) measures. We use a lab …