IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v94y2018i2p155-174.html
   My bibliography  Save this article

Economic Effectiveness of Implementing a Statewide Building Code: The Case of Florida

Author

Listed:
  • Kevin M. Simmons
  • Jeffrey Czajkowski
  • James M. Done

Abstract

Hurricane Andrew revealed inadequate construction practices were utilized in Florida for decades. In response, Florida adopted a new statewide code—the 2001 Florida Building Code (FBC)—which became one of the strictest in the nation. We use 10 years of paid insured loss data to show that the FBC reduced windstorm losses by up to 72%, then use our results to conduct a benefit-cost analysis (BCA). The FBC passes the BCA by a margin of $6 in full reduced loss to $1 of added cost, with a payback period of approximately 8 years.

Suggested Citation

  • Kevin M. Simmons & Jeffrey Czajkowski & James M. Done, 2018. "Economic Effectiveness of Implementing a Statewide Building Code: The Case of Florida," Land Economics, University of Wisconsin Press, vol. 94(2), pages 155-174.
    • Handle: RePEc:uwp:landec:v:94:y:2018:i:2:p:155-174
    Note: DOI: 10.3368/le.94.2.155
    as

    Download full text from publisher

    File URL: http://le.uwpress.org/cgi/reprint/94/2/155
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Elissa C. Kranzler & Jeffrey Czajkowski & Lin Jia Chen, 2020. "Identifying Promising Messages to Increase Hurricane Mitigation Among Coastal Homeowners in the United States," Risk Analysis, John Wiley & Sons, vol. 40(11), pages 2313-2328, November.
    2. Brannlund, Johan & Dunbar, Geoffrey & Ellwanger, Reinhard & Krutkiewicz, Matthew, 2023. "Weather the storms? Resilience investment and production losses after hurricanes," Journal of Environmental Economics and Management, Elsevier, vol. 122(C).
    3. Kevin M. Simmons & Jeffrey Czajkowski & James M. Done, 2019. "Building code economic performance under variable wind risk," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 24(2), pages 235-258, February.

    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:94:y:2018:i:2:p:155-174. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: http://le.uwpress.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.