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The Decision to insure against forest fire risk: an econometric analysis combining hypothetical real data

Recurso electrónico / Electronic resource
Registro MARC
Tag12Valor
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001  MAP20200005056
003  MAP
005  20200221135122.0
008  200219e20200101che|||p |0|||b|eng d
040  ‎$a‎MAP‎$b‎eng‎$d‎MAP
084  ‎$a‎320
24514‎$a‎The Decision to insure against forest fire risk: an econometric analysis combining hypothetical real data‎$c‎M. Brunette [et at.]
520  ‎$a‎Storm and fire are the two main natural hazards in Europe. They result in high costs for forest owners. However, behaviour in terms of forest insurance demand is heterogenous across Europe. In this paper we focus on private forest owners' decisions to insure against fire. We collected data on: i) willingness-to-pay (WTP) for insurance based on hypothetical scenarios incorporating ambiguous risks; ii) real data on insurance decisions and the individual characteristics. We simultaneously estimated real insurance and WTP using a selection equation for zero WTP that we explain by protest responses against insurance under expected utility. We found that real insurance provision is relevant to explaining positive WTP and that unobservable determinants of insurance may explain protest responses. These results confirm the interest in including observed decisions to analyse preferences towards insurance. One additional result is that facing ambiguous risk increases the WTP for insurance.
650 4‎$0‎MAPA20080597016‎$a‎Incendios forestales
650 4‎$0‎MAPA20080626334‎$a‎Seguro de incendios forestales
650 4‎$0‎MAPA20080582449‎$a‎Riesgos naturales
650 4‎$0‎MAPA20080583538‎$a‎Análisis económico
650 4‎$0‎MAPA20080584580‎$a‎Demanda de seguros
650 4‎$0‎MAPA20080554125‎$a‎Ecuaciones
651 1‎$0‎MAPA20080637743‎$a‎Europa
7001 ‎$0‎MAPA20200003595‎$a‎Brunette, Marielle
7730 ‎$w‎MAP20077100215‎$t‎Geneva papers on risk and insurance : issues and practice‎$d‎Geneva : The Geneva Association, 1976-‎$x‎1018-5895‎$g‎01/01/2020 Volumen 45 Número 1 - enero 2020 , p. 111- 133