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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
Economics of Natural Catastrophe Risk Insurance
681
11.4.5 (Lack of) Demand for Catastrophe Insurance
Individuals are often reluctant to purchase catastrophe risk insurance voluntarily and
keep that coverage over time for reasons that can be partially explained by features of
the descriptive models outlined in the previous subsection.
Failure to protect against low-probability, high-consequence events. As discussed in section
11.3.4.3, only 12 percent of Californians have earthquake insurance. This level has
remained surprisingly stable even after the series of massive earthquakes that occurred
in Haiti, Chile, New Zealand and Japan.
24
Should a ...
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Publisher Resources

ISBN: 9780444536853