There is a low but uncertain probability that climate change could trigger "mega-catastrophes," severe and at least partly irreversible adverse effects across broad regions. This paper first discusses the state of current knowledge and the defining characteristics of potential climate change...

There is a low but uncertain probability that climate change could trigger “mega-catastrophes,” severe and at least partly irreversible adverse effects across broad regions. This paper first discusses the state of current knowledge and the defining characteristics of potential climate change...

Hurricane Katrina did massive damage because New Orleans and the Gulf Coast were not appropriately protected. Wherever natural disasters threaten, the government - in its traditional role as public goods provider - must decide what level of protection to provide to an area. It does so by...

With respect to the pricing of insurance, there is often tension between setting premiums that reflect risk and dealing with equity/affordability issues. The National Flood Insurance Program in the United States has recently shifted toward elimination of certain premium discounts which has...