PT  - JOURNAL ARTICLE
AU  - Price, James I.
AU  - Dupont, Diane P.
AU  - Adamowicz, Wiktor L.
AU  - Lloyd-Smith, Patrick R.
TI  - Protecting Against Flood Impacts
AID  - 10.3368/le.102.1.111324-0107R
DP  - 2025 Jul 29
TA  - Land Economics
PG  - 111324-0107R
4099  - http://le.uwpress.org/content/early/2025/07/22/le.102.1.111324-0107R.short
4100  - http://le.uwpress.org/content/early/2025/07/22/le.102.1.111324-0107R.full
AB  - As the threat of flooding intensifies, the need for policies that align with household preferences for addressing flood risk becomes increasingly important. We conducted a discrete choice experiment to elicit homeowner preferences for purchasing overland flood insurance and/or making risk-reducing home improvements. Results from a latent class logit model indicate the presence of four preference classes, characterized by their preferred response to flood risk: insurance, home improvements, insurance and home improvements, and neither insurance nor home improvements. We subsequently evaluate household responses to insurance and home-improvement subsidies, offering insights into the effectiveness of incentives for encouraging protective actions against flooding.