Modelling risk adaptation and mitigation behaviour under different climate change scenarios

Roy Brouwer, Marije Schaafsma

Research output: Contribution to journalArticlepeer-review

39 Citations (Scopus)

Abstract

The main objective of this study is to simulate household choice behavior under varying climate change scenarios using choice experiments. Economic welfare measures are derived for society’s willingness to pay (WTP) to reduce climate change induced flood risks through private insurance and willingness to accept compensation (WTAC) for controlled flooding under varying future risk exposure levels. Material flood damage and loss of life are covered in the insurance policy experiment, while the WTAC experiment also captures the economic value of immaterial flood damage such as feelings of discomfort, fear and social disruption. The results show that WTP and WTAC are substantial, suggesting a more prominent role of external social damage costs in cost-benefit analysis of climate change and flood mitigation policies.
Original languageEnglish
Pages (from-to)11-29
Number of pages19
JournalClimatic Change
Volume117
Issue number1-2
Early online date24 Jul 2012
DOIs
Publication statusPublished - Mar 2013

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