Modelling risk adaptation and mitigation behaviour under different climate change scenarios
Modelling risk adaptation and mitigation behaviour under different climate change scenarios
The main objective of this study is to simulate household choice behavior under varying climate change scenarios using choice experiments. Economic welfare measures are derived for society’s willingness to pay (WTP) to reduce climate change induced flood risks through private insurance and willingness to accept compensation (WTAC) for controlled flooding under varying future risk exposure levels. Material flood damage and loss of life are covered in the insurance policy experiment, while the WTAC experiment also captures the economic value of immaterial flood damage such as feelings of discomfort, fear and social disruption. The results show that WTP and WTAC are substantial, suggesting a more prominent role of external social damage costs in cost-benefit analysis of climate change and flood mitigation policies.
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Brouwer, Roy
e05861b5-5961-45cd-9de0-883067908c5e
Schaafsma, Marije
937ac629-0fa2-4a11-bdf7-c3688405467d
1 March 2013
Brouwer, Roy
e05861b5-5961-45cd-9de0-883067908c5e
Schaafsma, Marije
937ac629-0fa2-4a11-bdf7-c3688405467d
Brouwer, Roy and Schaafsma, Marije
(2013)
Modelling risk adaptation and mitigation behaviour under different climate change scenarios.
Climatic Change, 117 (1-2), .
(doi:10.1007/s10584-012-0534-1).
Abstract
The main objective of this study is to simulate household choice behavior under varying climate change scenarios using choice experiments. Economic welfare measures are derived for society’s willingness to pay (WTP) to reduce climate change induced flood risks through private insurance and willingness to accept compensation (WTAC) for controlled flooding under varying future risk exposure levels. Material flood damage and loss of life are covered in the insurance policy experiment, while the WTAC experiment also captures the economic value of immaterial flood damage such as feelings of discomfort, fear and social disruption. The results show that WTP and WTAC are substantial, suggesting a more prominent role of external social damage costs in cost-benefit analysis of climate change and flood mitigation policies.
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e-pub ahead of print date: 24 July 2012
Published date: 1 March 2013
Organisations:
Faculty of Natural and Environmental Sciences, Geography & Environment
Identifiers
Local EPrints ID: 368361
URI: http://eprints.soton.ac.uk/id/eprint/368361
PURE UUID: 733cc79f-05b3-44b3-a097-7ffb63450aab
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Date deposited: 12 Sep 2014 11:30
Last modified: 15 Mar 2024 03:51
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Author:
Roy Brouwer
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