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dc.contributor.author
Mol, Jantsje M.
dc.contributor.author
Botzen, Wouter
dc.contributor.author
Blasch, Julia
dc.date.accessioned
2021-01-08T15:58:46Z
dc.date.available
2019-02-06T15:07:44Z
dc.date.available
2019-02-07T14:48:40Z
dc.date.available
2020-10-30T12:15:15Z
dc.date.available
2021-01-08T15:58:46Z
dc.date.issued
2012-12
dc.identifier.issn
0167-2681
dc.identifier.other
10.1016/j.jebo.2018.12.007
en_US
dc.identifier.uri
http://hdl.handle.net/20.500.11850/323398
dc.description.abstract
This paper presents a lab-in-the-field experiment with 2111 Dutch homeowners in floodplain areas to examine the impacts of financial incentives and behavioral motivations for self-insurance under different flood insurance schemes. We experimentally varied the insurance type (mandatory public versus voluntary private) and the availability of a premium discount incentive for investing in flood damage mitigation measures. This set-up allowed us to examine the existence of moral hazard, advantageous selection and the behavioral motivations of individual agents who face these different insurance types, without the selection bias that makes a causal inference from survey studies problematic. The main results show that a premium discount can increase investments in self-insurance under both private and public insurance. Moreover, we find no support for moral hazard in our natural disaster insurance market, but we do find a substantial share of cautious people who invest both in private insurance as well as in self-insurance, indicating advantageous selection. The results have implications for the design of insurance schemes to cope with increasing natural disaster risks.
en_US
dc.language.iso
en
en_US
dc.publisher
Elsevier
en_US
dc.subject
Behavioral insurance
en_US
dc.subject
Self-insurance
en_US
dc.subject
Homeowners
en_US
dc.subject
Lab-in-the-field experiment
en_US
dc.subject
Disaster damage reduction
en_US
dc.subject
Flood preparedness
en_US
dc.title
Behavioral motivations for self-insurance under different disaster risk insurance schemes
en_US
dc.type
Journal Article
dc.date.published
2018-12-22
ethz.journal.title
Journal of Economic Behavior & Organization
ethz.journal.volume
180
en_US
ethz.journal.abbreviated
J Econ Behav Organ
ethz.pages.start
967
en_US
ethz.pages.end
991
en_US
ethz.identifier.scopus
ethz.publication.place
Amsterdam
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03539 - Filippini, Massimo / Filippini, Massimo
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03539 - Filippini, Massimo / Filippini, Massimo
en_US
ethz.date.deposited
2019-02-06T15:07:45Z
ethz.source
FORM
ethz.eth
yes
en_US
ethz.availability
Metadata only
en_US
ethz.rosetta.installDate
2021-01-08T15:58:55Z
ethz.rosetta.lastUpdated
2021-01-08T15:58:55Z
ethz.rosetta.versionExported
true
ethz.COinS
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