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Demand for multi-year catastrophe insurance contracts : experimental evidence for mitigating the insurance gap

Dudek, Thomas; Ulm, Eric R.; Noy, Ilan - 2021

People often fail to insure against catastrophes, even when insurance is subsidized. Even when insuring homes, many homeowners still underinsure the full value of their assets. Some researchers have suggested using long-term insurance contracts to reduce these insurance gaps. We examine...

Persistent link: https://www.econbiz.de/10012694052

Measuring the impact of insurance on urban recovery with light : the 2010-2011 New Zealand earthquakes

Nguyen, Cuong; Noy, Ilan - 2018

We measure the longer-term effect of a major earthquake on the local economy, using night-time light intensity measured from space, and investigate whether insurance claim payments for damaged residential property affected the local recovery process. We focus on the destructive Canterbury...

Persistent link: https://www.econbiz.de/10011846154

Social inequalities in climate change-attributed impacts of hurricane harvey

Smiley, Kevin T.; Noy, Ilan; Wehner, Michael; Frame, Dave; … - 2021

Climate change is already increasing the severity of extreme weather events such as with rainfall during hurricanes. But no research to date investigates if, and to what extent, there are social inequalities in current climate change-attributed flood impacts. Here, we use climate change...

Persistent link: https://www.econbiz.de/10012668885

On welfare frameworks and catastrophic climate risks

Millner, Antony - 2013

Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to "fat-tailed" risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...

Persistent link: https://www.econbiz.de/10010199723

Intergenerational risk-sharing and risk-taking of a pension fund

Gollier, Christian (contributor) - 2007

Persistent link: https://www.econbiz.de/10003496853

Non-cooperative and cooperative policy reforms under uncertainty and spillovers

Hefeker, Carsten; Neugart, Michael - 2017

When countries need to implement costly economic policy reforms, these often imply uncertainties about their effectiveness for the home country and their spillovers to other countries. We develop a model to show that under these circumstances countries implement too few or too many policy...

Persistent link: https://www.econbiz.de/10011602603

The ethical content of the economic analysis of disasters : price gouging and post-disaster recovery

Noy, Ilan; Noy, Shakked - 2016

Economics, generally, is a discipline in which relatively little attention is devoted to language and terminology. As such, economists have not really attempted to define the concept of disasters very carefully, nor have they evaluated the ethics that are behind the economic analysis of...

Persistent link: https://www.econbiz.de/10011573935

The social value of predicting hurricanes

Molina, Renato; Rudik, Ivan - 2022

Hurricanes are among the costliest natural disasters in the world, with a significant portion of their impact linked to the accuracy of their forecasts. In this paper, we estimate the economic impacts of the official hurricane forecasts in the US and develop a new approach for measuring the...

Persistent link: https://www.econbiz.de/10013426083

Optimal taxation of risky human capital

Jacobs, Bas; Schindler, Dirk; Yang, Hongyan - 2009

In a model with ex-ante homogenous households, earnings risk and a general earnings function, we derive the optimal … (overinvestment) in education due to risk. Education policy unambiguously allows for more social insurance if education is a risky … activity. However, if education hedges against labor market risk, optimal tax rates could be lower than without education …

Persistent link: https://www.econbiz.de/10003806742

Green technology adoption under uncertainty, increasing returns, and complex adaptive dynamics

Dhami, Sanjit; Zeppini, Paolo - 2024

from complexity theory that takes account of true uncertainty and increasing returns to technology adoption. We examine …

Persistent link: https://www.econbiz.de/10014463535