Weathering the Storm: Measuring Household Willingness-to-Pay for Risk-Reduction in Post-Katrina New Orleans

ASU Author/Contributor (non-ASU co-authors, if there are any, appear on document)
John Whitehead Ph.D., Professor & Department Chair (Creator)
Institution
Appalachian State University (ASU )
Web Site: http://www.library.appstate.edu/

Abstract: The city of New Orleans suffered extensive damage as a result of Hurricane Katrina. Rebuilding involves decisions on investment in protective measures. An exhaustive list of protective measures has been studied in planning documents, with public comment solicited in town hall meetings. In this study we employ a different approach to examine public sentiment toward the selection and investment in protective measures. Our study uses a stated preference choice experiment with a stratified sample to investigate individuals" willingness-to-pay for rebuilding New Orleans's man-made storm defenses, restoring natural storm protection, and improving evacuation options through a modernized transportation system. We target residents of the New Orleans metropolitan area as well as other U.S. citizens. Our results indicate that individuals are willing to pay for increased storm protection for New Orleans, but values differ among residents of the New Orleans metropolitan area and other U.S. citizens.

Additional Information

Publication
Landry, Craig E., Paul Hindsley, Okmyung Bin, Jamie B. Kruse, John C. Whitehead and Kenneth R. Wilson. (2011) Weathering the Storm: Measuring Household Willingness-to-Pay for Risk-Reduction in Post-Katrina New Orleans, Southern Economic Journal 77(4): 991-1013. Published by the Southern Economic Association (ISSN: 0038-4038).
Language: English
Date: 2011