Homeowner Preference For Household-Level Flood Mitigation In Us: Analysis Of A Discrete Choice Experiment

Details

• Journal Title:
  Journal of Agricultural and Applied Economics
• Personal Author:
  Frimpong, Eugene ; Howard, Gregory ; Kruse, Jamie
• NOAA Program & Office:
  Sea Grant
• Sea Grant Program:
  GAUS (Georgia Sea Grant)
• Description:
  The Federal Emergency Management Agency (FEMA) offers a portfolio of flood risk mitigation options for high-risk homeowners, hoping to reduce flood damages. Buyout (home acquisition) and home retrofit (e.g., home elevation) are candidates available to homeowners. FEMA has recently amended and increased its buyout efforts. This study examines homeowners’ stated preference for buyout and home elevation contracts using survey data. Results indicate multiple factors influence the decision to participate in home acquisition and elevation programs. Importantly, we find that preferences vary with the timing (whether the contract is offered before or after a damage event) of the contract offered.
• Keywords:
  Agricultural And Biological Sciences (miscellaneous) Economics And Econometrics Agricultural And Biological Sciences (miscellaneous) Economics And Econometrics Agricultural And Biological Sciences (miscellaneous) Economics And Econometrics
• Source:
  Journal of Agricultural and Applied Economics, 54(2), 262-285
• DOI:
  https://doi.org/10.1017/aae.2022.5
• ISSN:
  1074-0708 ; 2056-7405
• Format:
  PDF
• Publisher:
  Cambridge University Press (CUP)
• Document Type:
  Journal Article
• License:
  https://creativecommons.org/licenses/by/4.0/
• Rights Information:
  CC BY
• Compliance:
  Submitted
• Main Document Checksum:
  urn:sha256:7ae405c3f2b0edfc67653341db45992f6af89bbf9a7886ee2380a9576da4ea7e
• Download URL:
  https://repository.library.noaa.gov/view/noaa/55420/noaa_55420_DS1.pdf
• File Type:
  [PDF - 1.11 MB ]