Building a Safe Port in the Storm: Private vs. Public Choices in Hurricane Mitigation

Mercatus Policy Comment No. 21

21 Pages Posted: 28 Feb 2009

See all articles by Daniel Sutter

Daniel Sutter

affiliation not provided to SSRN

Date Written: July 2008

Abstract

This Policy Comment analyzes the connection between hurricane mitigation and insurance. As many people fail to purchase government-subsidized flood and earthquake insurance, some researchers argue that market failure explains the lack of mitigation. But empirical evidence shows that markets do value natural hazards risks, including hurricane mitigation, and thus the case for market failure has been overstated.

Keywords: mitigation, insurance, Hurricane Katrina

Suggested Citation

Sutter, Daniel, Building a Safe Port in the Storm: Private vs. Public Choices in Hurricane Mitigation (July 2008). Mercatus Policy Comment No. 21. Available at SSRN: https://ssrn.com/abstract=1350515 or http://dx.doi.org/10.2139/ssrn.1350515

Daniel Sutter (Contact Author)

affiliation not provided to SSRN ( email )

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