{"title":"The Demand for Public Flood Protection under a Compulsory Private Flood Insurance Scheme","authors":"Daniel Osberghaus, Martin Achtnicht, N.D. Alimov","doi":"10.3368/le.99.3.022422-0017r","DOIUrl":null,"url":null,"abstract":"After the 2021 flood events in Germany, the introduction of compulsory flood insurance was debated. However, insurance coverage for private buildings and belongings may undermine the willingness to pay for municipal flood protection. We use a discrete choice experiment (N = 5,940 participants) to analyze the effects of compulsory insurance on the preferences for public flood protection. The demand for municipal flood protection is associated with its effectiveness and cost and varies plausibly with numerous covariates but is unaffected by compulsory insurance. Hence, there is no empirical indication that compulsory flood insurance would undermine citizens’ support for public flood-risk reduction.","PeriodicalId":51378,"journal":{"name":"Land Economics","volume":null,"pages":null},"PeriodicalIF":1.3000,"publicationDate":"2022-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Land Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.3368/le.99.3.022422-0017r","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
After the 2021 flood events in Germany, the introduction of compulsory flood insurance was debated. However, insurance coverage for private buildings and belongings may undermine the willingness to pay for municipal flood protection. We use a discrete choice experiment (N = 5,940 participants) to analyze the effects of compulsory insurance on the preferences for public flood protection. The demand for municipal flood protection is associated with its effectiveness and cost and varies plausibly with numerous covariates but is unaffected by compulsory insurance. Hence, there is no empirical indication that compulsory flood insurance would undermine citizens’ support for public flood-risk reduction.
期刊介绍：
Land Economics is dedicated to the study of land use, natural resources, public utilities, housing, and urban land issues. Established in 1925 by the renowned economist and founder of the American Economic Association, Richard T. Ely at the University of Wisconsin, Land Economics has consistently published innovative, conceptual, and empirical research of direct relevance to economists. Each issue brings the latest results in international applied research on such topics as transportation, energy, urban and rural land use, housing, environmental quality, public utilities, and natural resources.
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