Detail Flood Risk, Flood Mitigation, and Location Choice: Evaluating the National Flood Insurance Program’s Community Rating System Bibliografi Author: Fan, Qin ; Davlasheridze, Meri Topik: Amenity value; community rating system; ?ood risk; National Flood Insurance Program; Tiebout sorting Bahasa: (EN )     Penerbit: John Wiley & Sons, Inc.     Tahun Terbit: 2015     Jenis: Article - diterbitkan di jurnal ilmiah internasional Fulltext: Flood Risk, Flood Mitigation, and Location Choice Evaluating the National Flood Insurance Program’s Community Rating System.pdf (582.74KB; 0 download) Abstract Climate change is expected to worsen the negative effects of natural disasters like ?oods. The negative impacts, however, can be mitigated by individuals’ adjustments through migration and relocation behaviors. Previous literature has identi?ed ?ood risk as one signi?cant driver in relocation decisions, but no prior study examines the effect of the National Flood Insurance Program’s voluntary program—the Community Rating System (CRS)—on residential location choice. This article ?lls this gap and tests the hypothesis that ?ood risk and the CRScreditable ?ood control activities affect residential location choices. We employ a two-stage sorting model to empirically estimate the effects. In the ?rst stage, individuals’ risk perception and preference heterogeneity for the CRS activities are considered, while mean effects of ?ood risk and the CRS activities are estimated in the second stage. We then estimate heterogeneous marginal willingness to pay (WTP) for the CRS activities by category. Results show that age, ethnicity and race, educational attainment, and prior exposure to risk explain risk perception. We ?nd signi?cant values for the CRS-creditable mitigation activities, which provides empirical evidence for the bene?ts associated with the program. The marginal WTP for an additional credit point earned for public information activities, including hazard disclosure, is found to be the highest. Results also suggest that water amenities dominate ?ood risk. Thus, high amenity values may increase exposure to ?ood risk, and ?ood mitigation projects should be strategized in coastal regions accordingly. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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