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Willingness to Pay to Avoid Black Swan Events Related to Flood Risks

Author

Listed:
  • Buse Yavas Dewald

    (RWTH Aachen University)

  • Ayshe Tugba Atasoy

    (Chair of Energy Economics and Management / Institute for Future Energy Consumer Needs and Behavior (FCN), School of Business and Economics / E.ON Energy Research Center, RWTH Aachen University)

  • Reinhard Madlener

    (Chair of Energy Economics and Management / Institute for Future Energy Consumer Needs and Behavior (FCN), School of Business and Economics / E.ON Energy Research Center, RWTH Aachen University)

Abstract

The 2021 Ahrtal flood in western Germany was one of the country’s costliest natural disasters and has reopened the debate on how flood protection should be financed. This paper examines residents’ willingness to pay (WTP) for future flood mitigation four years after the event. Using a contingent valuation survey of 103 residents, we estimate OLS and logistic regressions complemented by a bootstrap mediation analysis. We identify three main patterns. First, household income (ω = 0.508, p

Suggested Citation

  • Buse Yavas Dewald & Ayshe Tugba Atasoy & Reinhard Madlener, 2026. "Willingness to Pay to Avoid Black Swan Events Related to Flood Risks," FCN Working Papers No. 1/2026, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    • Handle: RePEc:ris:fcnwpa:022472
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