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Who is going to save us now? Bureaucrats, Politicians and Risky Tasks

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Author Info
Paul A. Raschky ()
Hannelore Weck-Hannemann ()

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Abstract

The paper compares the policy choices regarding risk-transfer against low-probability-high-loss events between elected and appointed public officials. Empirical evidence using data on U.S. municipality-level shows that appointed city managers are more likely to adopt federal risk-transfer regimes. It is argued that the variation in the level of insurance activity emerges from the different incentive schemes each government form is facing. Controlling for spatial dependencies further shows that the participation decision in the insurance program significantly depends on the decision of neighboring communities.

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File URL: http://www.uibk.ac.at/fakultaeten/volkswirtschaft_und_statistik/forschung/wopec/repec/inn/wpaper/2007-29.pdf
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Publisher Info
Paper provided by Faculty of Economics and Statistics, University of Innsbruck in its series Working Papers with number 2007-29.

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Handle: RePEc:inn:wpaper:2007-29

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Related research
Keywords: Politicians; bureaucrats; decision making under uncertainty; flood insurance; spatial econometrics;

Find related papers by JEL classification:
D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters

References listed on IDEAS
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  1. Browne, Mark J & Hoyt, Robert E, 2000. " The Demand for Flood Insurance: Empirical Evidence," Journal of Risk and Uncertainty, Springer, vol. 20(3), pages 291-306, May. [Downloadable!] (restricted)
  2. Alberto Alesina & Guido Tabellini, 2007. "Bureaucrats or Politicians? Part I: A Single Policy Task," American Economic Review, American Economic Association, vol. 97(1), pages 169-179, March. [Downloadable!]
    Other versions:
  3. Steven F. Kreft, 2007. "An Efficiency Comparison of City Managers and Elected Mayors," Working Papers 2007-02, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy. [Downloadable!]
  4. Frey, Bruno S. & Schneider, Friedrich, 1986. "Competing models of international lending activity," Journal of Development Economics, Elsevier, vol. 20(2), pages 225-245, March. [Downloadable!] (restricted)
  5. Philippe Aghion & Alberto Alesina & Francesco Trebbi, 2005. "Choosing Electoral rules: Theory and Evidence from US Cities," Harvard Institute of Economic Research Working Papers 2065, Harvard - Institute of Economic Research. [Downloadable!]
    Other versions:
  6. Howard Kunreuther & Mark Pauly, 2006. "Rules rather than discretion: Lessons from Hurricane Katrina," Journal of Risk and Uncertainty, Springer, vol. 33(1), pages 101-116, September. [Downloadable!] (restricted)
  7. Howard Kunreuther & Mark Pauly, 2006. "Rules Rather Than Discretion: Lessons from Hurricane Katrina," NBER Working Papers 12503, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  8. Jan Mutl, 2006. "Misspecification of Space: An Illustration Using Growth Convergence Regressions," Computing in Economics and Finance 2006 436, Society for Computational Economics.
  9. Luechinger, Simon & Raschky, Paul A., 2009. "Valuing flood disasters using the life satisfaction approach," Journal of Public Economics, Elsevier, vol. 93(3-4), pages 620-633, April. [Downloadable!] (restricted)
  10. Eric Maskin & Jean Tirole, 2004. "The Politician and the Judge: Accountability in Government," American Economic Review, American Economic Association, vol. 94(4), pages 1034-1054, September. [Downloadable!]
    Other versions:
  11. Rincke, Johannes, 2007. "Policy diffusion in space and time: The case of charter schools in California school districts," Regional Science and Urban Economics, Elsevier, vol. 37(5), pages 526-541, September. [Downloadable!] (restricted)
  12. Alberto Alesina & Guido Tabellini, 2007. "Bureaucrats or Politicians? Part II: Multiple Policy Tasks," Levine's Working Paper Archive 321307000000000875, David K. Levine. [Downloadable!]
    Other versions:
  13. Brookshire, David S, et al, 1985. "A Test of the Expected Utility Model: Evidence from Earthquake Risks," Journal of Political Economy, University of Chicago Press, vol. 93(2), pages 369-89, April. [Downloadable!] (restricted)
  14. Paul Raschky, 2007. "Estimating the effects of risk transfer mechanisms against floods in Europe and U.S.A.: A dynamic panel approach," Working Papers 2007-05, Faculty of Economics and Statistics, University of Innsbruck. [Downloadable!]
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