Modeling demand for catastrophic flood risk insurance in coastal zones in Vietnam using choice experiments
In a choice experiment, households in Vietnam are offered flood insurance to mitigate increasing catastrophic flood risks due to climate change. Participants are asked to choose their most preferred insurance policy given expected future flood and mortality risks, insurance cover and associated insu...
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| Veröffentlicht in: | Environment and development economics 2014-04, Vol.19 (2), p.228-249 |
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| container_title | Environment and development economics |
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| creator | Brouwer, Roy Tinh, Bui Duc Tuan, Tran Huu Magnussen, Kristin Navrud, Ståle |
| description | In a choice experiment, households in Vietnam are offered flood insurance to mitigate increasing catastrophic flood risks due to climate change. Participants are asked to choose their most preferred insurance policy given expected future flood and mortality risks, insurance cover and associated insurance premiums. Although not affordable to everyone, there exists substantial demand for flood insurance. Insurance demand is spatially differentiated, non-linear in flood probabilities and mortality risks, and subject to significant preference heterogeneity. Since respondents are unfamiliar with the concept of flood insurance and education levels are low, choice consistency tests were conducted. These show that choice consistency depends on a combination of respondent characteristics, such as gender and education level, and experimental design characteristics. |
| doi_str_mv | 10.1017/S1355770X13000405 |
| format | Article |
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Participants are asked to choose their most preferred insurance policy given expected future flood and mortality risks, insurance cover and associated insurance premiums. Although not affordable to everyone, there exists substantial demand for flood insurance. Insurance demand is spatially differentiated, non-linear in flood probabilities and mortality risks, and subject to significant preference heterogeneity. Since respondents are unfamiliar with the concept of flood insurance and education levels are low, choice consistency tests were conducted. These show that choice consistency depends on a combination of respondent characteristics, such as gender and education level, and experimental design characteristics.</description><identifier>ISSN: 1355-770X</identifier><identifier>EISSN: 1469-4395</identifier><identifier>DOI: 10.1017/S1355770X13000405</identifier><language>eng</language><publisher>Cambridge, UK: Cambridge University Press</publisher><subject>Case studies ; Catastrophes ; Climate change ; Coastal zone ; Coastal zone management ; Crop insurance ; Demand ; Disaster insurance ; Economics ; Education ; Environmental risk ; Experimental design ; Experiments ; Fatalities ; Flood insurance ; Floods ; Global warming ; Health risks ; Heterogeneity ; Households ; Insurance ; Insurance coverage ; Mortality ; Mortality risk ; Preferences ; Probability ; Risk ; Risk exposure ; Speed limits ; Storm damage ; THEORY AND APPLICATIONS ; Valuation ; Vietnam ; Willingness to pay</subject><ispartof>Environment and development economics, 2014-04, Vol.19 (2), p.228-249</ispartof><rights>Copyright © Cambridge University Press 2013</rights><rights>Cambridge University Press 2013</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c502t-51f16af5b18a8a95abf9063cfec6531965ec68aa5a25e87d32211a32422b79873</citedby><cites>FETCH-LOGICAL-c502t-51f16af5b18a8a95abf9063cfec6531965ec68aa5a25e87d32211a32422b79873</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://www.jstor.org/stable/pdf/26391771$$EPDF$$P50$$Gjstor$$H</linktopdf><linktohtml>$$Uhttps://www.cambridge.org/core/product/identifier/S1355770X13000405/type/journal_article$$EHTML$$P50$$Gcambridge$$H</linktohtml><link.rule.ids>164,314,780,784,803,27865,27866,27924,27925,55628,58017,58250</link.rule.ids></links><search><creatorcontrib>Brouwer, Roy</creatorcontrib><creatorcontrib>Tinh, Bui Duc</creatorcontrib><creatorcontrib>Tuan, Tran Huu</creatorcontrib><creatorcontrib>Magnussen, Kristin</creatorcontrib><creatorcontrib>Navrud, Ståle</creatorcontrib><title>Modeling demand for catastrophic flood risk insurance in coastal zones in Vietnam using choice experiments</title><title>Environment and development economics</title><addtitle>Envir. 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These show that choice consistency depends on a combination of respondent characteristics, such as gender and education level, and experimental design characteristics.</description><subject>Case studies</subject><subject>Catastrophes</subject><subject>Climate change</subject><subject>Coastal zone</subject><subject>Coastal zone management</subject><subject>Crop insurance</subject><subject>Demand</subject><subject>Disaster insurance</subject><subject>Economics</subject><subject>Education</subject><subject>Environmental risk</subject><subject>Experimental design</subject><subject>Experiments</subject><subject>Fatalities</subject><subject>Flood insurance</subject><subject>Floods</subject><subject>Global warming</subject><subject>Health risks</subject><subject>Heterogeneity</subject><subject>Households</subject><subject>Insurance</subject><subject>Insurance coverage</subject><subject>Mortality</subject><subject>Mortality 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experiments</atitle><jtitle>Environment and development economics</jtitle><addtitle>Envir. Dev. Econ</addtitle><date>2014-04-01</date><risdate>2014</risdate><volume>19</volume><issue>2</issue><spage>228</spage><epage>249</epage><pages>228-249</pages><issn>1355-770X</issn><eissn>1469-4395</eissn><abstract>In a choice experiment, households in Vietnam are offered flood insurance to mitigate increasing catastrophic flood risks due to climate change. Participants are asked to choose their most preferred insurance policy given expected future flood and mortality risks, insurance cover and associated insurance premiums. Although not affordable to everyone, there exists substantial demand for flood insurance. Insurance demand is spatially differentiated, non-linear in flood probabilities and mortality risks, and subject to significant preference heterogeneity. Since respondents are unfamiliar with the concept of flood insurance and education levels are low, choice consistency tests were conducted. These show that choice consistency depends on a combination of respondent characteristics, such as gender and education level, and experimental design characteristics.</abstract><cop>Cambridge, UK</cop><pub>Cambridge University Press</pub><doi>10.1017/S1355770X13000405</doi><tpages>22</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 1355-770X |
| ispartof | Environment and development economics, 2014-04, Vol.19 (2), p.228-249 |
| issn | 1355-770X 1469-4395 |
| language | eng |
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| source | PAIS Index; JSTOR; Cambridge University Press Journals Complete |
| subjects | Case studies Catastrophes Climate change Coastal zone Coastal zone management Crop insurance Demand Disaster insurance Economics Education Environmental risk Experimental design Experiments Fatalities Flood insurance Floods Global warming Health risks Heterogeneity Households Insurance Insurance coverage Mortality Mortality risk Preferences Probability Risk Risk exposure Speed limits Storm damage THEORY AND APPLICATIONS Valuation Vietnam Willingness to pay |
| title | Modeling demand for catastrophic flood risk insurance in coastal zones in Vietnam using choice experiments |
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