Harvard University Study Data Update Understanding Environmental Economics (Voluntary Purchases and Adverse Selection in Flood Insurance Market): Economics – Environmental Economics


2021 NOV 05 (NewsRx) – By a Journalist-Staff News Editor at Daily Insurance News – Investigators release a new report on economics – environmental economics. According to information from Cambridge, Massachusetts, per NewsRx correspondents, the research said: “Flood-related events are the most damaging natural hazard in United States, yet many at-risk households do not have flood insurance.

Financial support for this research came from United States Department of Homeland Security (DHS).

Our editors got a research citation from Harvard University, “Using detailed policy and claims data from the National Flood Insurance Program (NFIP), we perform a holistic analysis of the state-provided flood insurance market in the United States. we, focusing not only on high-risk areas with an incomplete mandate requiring the purchase of insurance, but also on low-risk areas where such a mandate does not exist. We are able to better understand the determinants of insurance demand in a context of voluntary purchase and low underwriting and thus provide a more complete analysis of the flood insurance market in the we than previous work.

According to the news editors, the research concluded: “In addition to exploring the correlates of demand for flood insurance, this article provides quasi-experimental estimates of the willingness to pay of households for flood insurance. and finds strong evidence to suggest that the NFIP failed to use comprehensive flood risk information leading to unfavorable selection in the program. “

This research has been peer reviewed.

For more information on this research, see: Voluntary purchases and adverse selection in the market for Flood insurance. Journal of Environmental Economics and Management, 2021; 110. Journal of Environmental Economics and Management can be contacted at: Academic Press Inc Elsevier Science, 525 B Street, Ste 1900, San diego, california 92101-4495, United States. (Elsevier – www.elsevier.com; Journal of Environmental Economics and Management – http://www.journals.elsevier.com/journal-of-environmental-economics-and-management/)

The editors point out that additional information can be obtained by contacting Jacob T. Bradt, Harvard University, John F. Kennedy School of Government, 79 John F. Kennedy Street, Cambridge, MA 02138, United States. Additional authors of this research include Carolyn Kousky and Oliver ej wing.

The direct object identifier (DOI) for this additional information is: https://doi.org/10.1016/j.jeem.2021.102515. This DOI is a link to an electronic document online that is free or to purchase, and can be your direct source for a journal article and its citation.

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