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Natural disaster insurance and the equity-efficiency trade-off

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  • Pierre Picard

    (CECO - Laboratoire d'econometrie de l'école polytechnique - CNRS : UMR7657 - Polytechnique - X)

Abstract

Cet article analyse le rôle de l'assurance privée dans la prévention et la réduction des dommages des catastrophes naturelles. Nous caractérisons le dilemme équité-efficacité auquel sont confrontés les décideurs politiques dans un contexte d'information imparfaite sur les coûts individuels de prévention. Il est montré qu'un marché concurrentiel d'assurance avec une tarification actuarielle, associé à des transferts sous forme de taxe ou de subvention, domine vraisemblablement les règles de tarification uniforme de l'assurance ou les schémas d'indemnisation financée par l'Etat. Le modèle montre comment des taxes différentiées sur les contrats d'assurance peuvent accroître les incitations à la prévention, tout en faisant bénéficier d'un transfert compensateur les individus dont les coûts de prévention sont élevés. L'article met aussi l'accent sur la complémentarité entre les incitations individuelles par la fiscalité et les incitations collectives par l'attribution de subventions aux collectivités locales qui mettent en place des politiques de prévention des risques de catastrophes naturelle

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Bibliographic Info

Paper provided by HAL in its series Working Papers with number hal-00243028.

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Date of creation: 2005
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Handle: RePEc:hal:wpaper:hal-00243028

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  1. L. Latruffe & P. Picard, 2002. "Assurance des catastrophes naturelles : faut-il choisir entre prévention et solidarité ?," THEMA Working Papers 2002-31, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  2. 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.
  3. Coate, Stephen, 1995. "Altruism, the Samaritan's Dilemma, and Government Transfer Policy," American Economic Review, American Economic Association, vol. 85(1), pages 46-57, March.
  4. Kunreuther, Howard, 1996. "Mitigating Disaster Losses through Insurance," Journal of Risk and Uncertainty, Springer, vol. 12(2-3), pages 171-87, May.
  5. Lewis, Tracy & Nickerson, David, 1989. "Self-insurance against natural disasters," Journal of Environmental Economics and Management, Elsevier, vol. 16(3), pages 209-223, May.
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Citations

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Cited by:
  1. Céline Grislain-Letrémy & Bertrand Villeneuve, 2011. "Natural and Industrial Disasters : Land Use and Insurance," Working Papers 2011-32, Centre de Recherche en Economie et Statistique.
  2. Swenja Surminski & Jillian Eldridge, 2014. "Flood insurance in England – an assessment of the current and newly proposed insurance scheme in the context of rising flood risk," Grantham Research Institute on Climate Change and the Environment Working Papers 144, Grantham Research Institute on Climate Change and the Environment.
  3. 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.
  4. Swenja Surminski & Delioma Oramas-Dorta, 2013. "Do flood insurance schemes in developing countries provide incentives to reduce physical risks?," Grantham Research Institute on Climate Change and the Environment Working Papers 119, Grantham Research Institute on Climate Change and the Environment.
  5. Luigi Buzzacchi & Gilberto Turati, 2009. "Collective Risks in Local Administrations: Can a Private Insurer Be Better than a Public Mutual Fund?," Working papers 3, Former Department of Economics and Public Finance "G. Prato", University of Torino.
  6. Céline Grislain-Letrémy & Sabine Lemoyne de Forges, 2011. "Coordinating Flood Insurance and Collective Prevention Policies: A Fiscal Federalism Perspective," Working Papers 2011-07, Centre de Recherche en Economie et Statistique.
  7. Gilberto Turati & Luigi Buzzacchi, 2009. "Optimal risk allocation in the provision of local public services: can a private insurer be better than a public mutual fund?," Working Papers 2009/21, Institut d'Economia de Barcelona (IEB).

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