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Homeowner Preference for Household-level Flood Mitigation in US: Analysis of a Discrete Choice Experiment

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  • Frimpong, Eugene
  • Howard, Gregory
  • Kruse, Jamie

Abstract

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.

Suggested Citation

  • Frimpong, Eugene & Howard, Gregory & Kruse, Jamie, 2022. "Homeowner Preference for Household-level Flood Mitigation in US: Analysis of a Discrete Choice Experiment," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 54(2), pages 262-285, May.
    • Handle: RePEc:cup:jagaec:v:54:y:2022:i:2:p:262-285_4
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    Cited by:

    1. Andrea Mah & Daniel Chapman & Ezra Markowitz & Brian Lickel, 2024. "Public preferences for sea-level rise adaptation vary depending on strategy, community, and perceiver characteristics," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 29(8), pages 1-34, December.
    2. Denis Charles & Magali Dumontet & Meglena Jeleva & Johanna Etner, 2024. "Behavioral drivers of individuals’ Term Life Insurance Demand: evidence from a Discrete Choice Experiment," EconomiX Working Papers 2024-23, University of Paris Nanterre, EconomiX.

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