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Auto-assurance, assurance et risques naturels : Une application à la gestion forestière

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Author Info

  • Marielle Brunette

    ()

  • Stéphane Couture

    ()
    (Laboratoire d'Economie Forestière, INRA - AgroParisTech)

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    Abstract

    In this paper, we study the optimal self-insurance or insurance activities for a private forest owner against natural hazards. The specificities of natural risks, especially in forest, make indispensable to adjust the standard models of self-insurance and insurance. We develop such a model in which the number of the states of nature is finite and loss is multiplicative. We analyse the optimal choices of self-insurance and insurance that are different in this framework compared to the standard one. We show that some comparative statics results are ambiguous. We then examine the implication of a public disaster relief program on the optimal coverage decisions. We find that public intervention desincites the private forest owner to self-insure or to insure against natural hazards.

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    Bibliographic Info

    Paper provided by Laboratoire d'Economie Forestiere, AgroParisTech-INRA in its series Working Papers - Cahiers du LEF with number 2006-02.

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    Length: 24 pages
    Date of creation: Mar 2006
    Date of revision:
    Publication status: Published in Review of Agricultural and Environmental Studies, pages 57-78
    Handle: RePEc:lef:wpaper:2006-02

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    Keywords: Self-insurance; natural risks;

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