The Economics of Natural and Unnatural Disasters

Authors

William S. Kern Editor, Western Michigan UniversityFollow

Publication Date

1-1-2010

DOI

10.17848/9781441678812

Abstract

These papers present the economic issues debates that arise when natural disasters strike. Better mechanisms for coping with disasters through better preparation and mitigation efforts are addressed. The authors discuss insurance and risk and suggest long-term insurance arrangements and government policy action. The themes addressed also include the ability of potential disaster victims to accurately assess the risks they face, the role of incentives in ensuring that mitigation efforts are undertaken, the adequacy of the evaluation of the impact of disasters on economies, and discussion of the effectiveness of current government policies toward disaster prevention and relief.

Files

Contents

1. Introduction / William Kern
2. Market and Government Failure in Insuring and Mitigating Natural Catastrophes: How Long-Term Contracts Can Help / Howard C. Kunreuther and Erwann O. Michel-Kerjan
3. Expectations and Unexpected Consequences of Public Policy toward Natural and Man-Made Disasters / Anthony M. Yezer
4. The Economics of Disaster: Retrospect and Prospect / Hal Cochane
5. Private Solutions to Public Disasters: Self-reliance and Social Resilience / Peter J. Boettke and Daniel J. Smith
6. The Socioeconomic Impact of Tornadoes / Daniel Sutter and Kevin M. Simmons

ISBN

9780880993630 (cloth) ; 9780880993623 (pbk.) ; 9781441678812 (ebook)