Private investment and government protection

Journal of Risk and Uncertainty

Volumn 33, Issue 1-2, 2006, Pages 73-100

  Kousky, Carolyn ^a   Luttmer, Erzo F P ^a   Zeckhauser, Richard J ^a  

^a HARVARD UNIVERSITY   (United States)

Author keywords

Disaster; Floods; Global warming; Infrastructure; Levees; Multiple equilibria; Option value; Risk

Indexed keywords

EID: 33751076021     PISSN: 08955646     EISSN: 15730476     Source Type: Journal    
DOI: 10.1007/s11166-006-0172-y     Document Type: Article

References (41)

1. Abel, Andrew B. et al. (1996). "Options, the Value of Capital, and Investment, " Quarterly Journal of Economics August: 753-777.
2. Arrow, Kenneth and Mordecai Kurz. (1970). Public Investment, the Rate of Return, and Optimal Fiscal Policy. Baltimore, MD: The Johns Hopkins Press.
3. Banerjee, A. V. (1992). "A Simple Model of Herd Behavior, " Quarterly Journal of Economics 107(3), 797-817.
4. Barro, Robert J. (1990). "Government Spending in a Simple Model of Endogenous Growth, " Journal of Political Economy 98(5), S103-26.
5. Bond, Kit. (2005). Bond Celebrates Riverside Levee Completion: New Levee to Protect Kansas City from Flood & Boost Economic Growth. Retrieved March 15, 2006 from http://bond.senate.gov/press_section/ record.cfm?id$= $238023.
6. Buchanan, James M. (1975). The Samaritan's Dilemma, Altruism, Morality, and Economic Theory. E. Phelps. New York: Russell Sage, 71-85.
7. Carter, N. T. (2005). Flood Risk Management: Federal Role in Infrastructure. CRS Report for Congress. Washington, D.C., Congressional Research Service, Library of Congress.
8. Carter, N. T. and B. A. Cody. (2005). CRS Report for Congress, The Civil Works Program of the Army Corps of Engineers: A Primer. Washington, D.C., Congressional Research Service, The Library of Congress.
9. Feinstein, Dianne. (2005). Floor Statement by Senator Dianne Feinstein. Retrieved March 15, 2006 from http://feinstein.senate.gov/05releases/r- energy1114.htm.
10. Gerritsen, Herman. (2005). "What happened in 1953? The Big Flood in the Netherlands in Retrospect, " Philosophical Transactions of the Royal Society 363, 1271-1291.
11. Glaeser, Edward L. and Jesse M. Shapiro. (2002). "Cities and Warfare: The Impact of Terrorism on Urban Form, " Journal of Urban Economics 51: 205-224.
12. Hallstrom, Daniel G. and Kerry V. Smith. (2005). "Market Responses to Hurricanes, " Journal of Environmental Economics and Management 50(3): 541-561.
13. Heisler, Eric. (2003). Investment of $400 Million Flows into Chesterfield Valley. St. Louis Post-Dispatch. St. Louis, July 7.
14. Kahn, Matthew E. (2005). "The Death Toll from Natural Disasters: The Role of Income, Geography, and Institutions, " Review of Economics and Statistics 87(2), 271-284.
15. Kahn, Matthew E. (2000). "Smog Reductions Impact on California County Growth, " Journal of Regional Science 40(3), 565-582.
16. Kahneman, Daniel and Amos Tversky, Eds. (2000). Choice, Values, and Frames. Cambridge, UK: Cambridge University Press.
17. Kahneman, Daniel, Paul Slovic and Amos Tversky, Eds. (1982). Judgment under Uncertainty: Heuristics and Biases. Cambridge, UK: Cambridge University Press.
18. Kahneman, Daniel and Amos Tversky. (1979). "Prospect Theory: An Analysis of Decision Under Risk, " Econometrica 47(2), 263-292.
19. Kaizuka, K. (1965). "Public Goods and the Decentralization of Production, " Review of Economics and Statistics 47, 118-120.
20. Kennedy, Roger G. (2006). Wildfire and Americans: How to Save Lives, Property, and Your Tax Dollars. New York: Hill and Wang.
21. Klick, J. and A. Tabarrok. (2005). "Using Terror Alert Levels to Estimate the Effect of Police on Crime, " The Journal of Law and Economics 48, 267-279.
22. Kunreuther, Howard and Geoffrey Heal. (2003). "Interdependent Security, " Journal of Risk and Uncertainty 26(2/3), 231-249.
23. Kunreuther, Howard, et al. (2002). "High Stakes Decision Making: Normative, Descriptive and Prescriptive Considerations, " Marketing Letters 13(3), 259.
24. Kunreuther, Howard and Adam Rose, Eds. (2004). The Economics of Natural Hazards. Northamption, MA: Edward Elgar Publishing.
25. Kuran, Timur and Cass R. Sunstein. (1999). "Availability Cascades and Risk Regulation, " Stanford Law Review April.
26. Lehrer, Eli. (2000). "Crime Fighting and Urban Renewal, " The Public Interest 141(Fall), 91-103.
27. Levitt, Steven D. (1997). "Using Electoral Cycles in Police Hiring to Estimate the Effect of Police on Crime, " American Economic Review 87(3).
28. Murphy, Kevin M., Andrei Shleifer and Robert W. Vishny. (1989). "Industrialization and the Big Push, " Journal of Political Economy 97(5), 1003-1026.
29. National Research Council Committee on Assessing and Valuing the Services of Aquatic and Related Terrestrial Ecosystems (2004). Valuing Ecosystem Services: Toward Better Environmental Decision-Making. Washington, DC: National Academies Press.
30. Persky, Joseph. (2001). "Retrospectives: Cost-Benefit Analysis and the Classical Creed, " Journal of Economic Perspectives 15(4), 199-208.
31. Pindyck, Robert S. (2000). "Irreversibilities and the Timing of Environmental Policy, " Resource and Energy Economics 22(3), 233-259.
32. Pinter, Nicholas. (2005). "One Step Forward, Two Steps Back on U.S. Floodplains, " Science 308(8 April), 207-208.
33. Roback, Jennifer. (1982). "Wages, Rents, and the Quality of Life, " Journal of Political Economy 90(6), 1257-1278.
34. Rodrik, Dani and Richard Zeckhauser. (1988). "The Dilemma of Government Responsiveness, " Journal of Policy Analysis and Management 7(4), 601-620.
35. Rosen, Sherwin. (2002). "Markets and Diversity, " American Economic Review 92(1), 1-15.
36. Sparks, Richard E. (2006). "Rethinking, Then Rebuilding New Orleans, " Issues in Science and Technology Winter.
37. The Royal Netherlands Embassy. (2005). Dutch Ambassador Visits New Orleans. Retrieved February 20, 2006 from http://www.netherlands-embassy.org/ article.asp?articleref$=$AR00001808EN.
38. Tiebout, Charles M. (1956). "A Pure Theory of Local Expenditures, " Journal of Political Economy 64(5), 416-424.
39. U.S. Environmental Protection Agency (1995). America's Wetlands: Our Vital Link Between Land and Water, EPA843-K-95-001. Washington, DC: Office of Water, Office of Wetlands, Oceans and Watersheds.
40. Viscusi, W. Kip and Joseph E. Aldy. (2003). "The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World, " Journal of Risk and Uncertainty 27(1), 5-76.
41. Zeckhauser, Richard. (1996). "The Economics of Catastrophes, " Journal of Risk and Uncertainty 12, 113-140.