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This paper examines the role of insurances to reduce uncertainty associated with climate change losses for individuals. Of special interest is the value individuals place on the reduction of increased flood risks by insurance coverage. Using rank-dependent utility and prospect theories, risk...
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An article by William D. Nordhaus (2010) in this journal examined the economic impacts by hurricanes in the USA, and the potential impacts of climate change on future hurricane damages. His analyses show that hurricane damages normalized over time for changes in GDP have increased significantly...
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