Earthquake Risk in Japan: Consumers' Risk Mitigation Responses After the Great East Japan Earthquake
AbstractThe destructive impact of the Great East Japan Earthquake and subsequent tsunami on March 11, 2011 has enhanced consumer's earthquake preparedness even in unaffected areas. This paper uses unique survey data collected after the earthquake to study how consumers reacted to this catastrophic event. We find that self-reported, perceived preparedness for natural disasters has significantly improved even among low-income households after March 11, but that post-quake intentions for more specific risk mitigation activities were systematically associated with household income and wealth levels. Our results indicate that the recent events might have widened the gap in disaster preparedness between rich and poor.
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Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Journal of Economic Issues.
Volume (Year): 46 (2012)
Issue (Month): 2 (June)
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Web page: http://www.mesharpe.com/mall/results1.asp?acr=jei
disaster preparedness; earthquake insurance; earthquake risk; risk mitigation;
Other versions of this item:
- Michio Naoi & Miki Seko & Takuya Ishino, 2012. "Earthquake Risk in Japan: Consumers' Risk Mitigation Responses after the Great East Japan Earthquake," Keio/Kyoto Joint Global COE Discussion Paper Series 2011-036, Keio/Kyoto Joint Global COE Program.
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- Nejat Anbarci & Monica Escaleras & Charles A. Register, 2004.
"Earthquake fatalities: the interaction of nature and political economy,"
0415, Florida International University, Department of Economics.
- Anbarci, Nejat & Escaleras, Monica & Register, Charles A., 2005. "Earthquake fatalities: the interaction of nature and political economy," Journal of Public Economics, Elsevier, vol. 89(9-10), pages 1907-1933, September.
- Naoi, Michio & Seko, Miki & Sumita, Kazuto, 2009. "Earthquake risk and housing prices in Japan: Evidence before and after massive earthquakes," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 658-669, November.
- Michio Naoi & Miki Seko & Kazuto Sumita, 2010. "Community Rating, Cross Subsidies and Underinsurance: Why so many Households in Japan do not Purchase Earthquake Insurance," The Journal of Real Estate Finance and Economics, Springer, vol. 40(4), pages 544-561, May.
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