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

Author

Listed:
  • Marielle Brunette

    ()

  • Stéphane Couture

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

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.

Suggested Citation

  • Marielle Brunette & Stéphane Couture, 2006. "Auto-assurance, assurance et risques naturels : Une application à la gestion forestière," Working Papers - Cahiers du LEF 2006-02, Laboratoire d'Economie Forestiere, AgroParisTech-INRA.
  • Handle: RePEc:lef:wpaper:2006-02
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    File URL: http://www.nancy.inra.fr/lef/content/download/2918/28891/version/1/file/doc_LEF_n02.pdf
    File Function: First version, 2006
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    Citations

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    Cited by:

    1. Marielle Brunette & Stephane Couture & Eric Langlais, 2007. "Hedging Strategies in Forest Management," Working Papers - Cahiers du LEF 2007-07, Laboratoire d'Economie Forestiere, AgroParisTech-INRA.

    More about this item

    Keywords

    Self-insurance; natural risks;

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry

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