Suchergebnisse

We report on subjects' perceptions of the risks of hurricanes and relocation decisions. Our sample contains individuals displaced by Hurricane Katrina or Rita in Gulf-coast areas, as well as a comparison group of people, not much affected by the hurricanes. Results are presented for two choice experiments, conducted immediately after the hurricane and again roughly one year later, in which we evaluate the trade-offs between given levels of risks and income, while controlling for amenities and other location characteristics. We find that perceptions of risk and damages fade, and willingness to pay to obtain protection falls over time.

This paper presents estimates of the recreational use value to prevent the loss of a western lake threatened by diversions of upstream waters that supply it. The recreation demand model used to estimate recreation‐related values is the popular repeated nested multinomial logit model. The model is specified to allow an individual to choose when to visit various sites during the season, because site choice is likely to be influenced by water levels that change over the course of the season. The values are compared to agricultural values in order to assess whether the potential recreation demand side of a market for a water bank exists.