Willingness to pay for protection from storm surge damages under climate change in Halifax Regional Municipality

The future protection from the climate change-related hazards and the willingness to pay for home insurance in the coastal wetlands of West Sardinia, Italy

“…It is even more reasonable that those that are ready to invest do believe in climate change and chose measures of improved infrastructure, general and personal insurance. The influence of the belief in climate change on investing money (3.735, p < .01) is in line with the recent Canadian study [67] that showed the impact of the climate change perception on WTP in Halifax, as well as in the German study [36], which showed that perception about the consequences of climate change is one of the factors influencing the uptake of private precautions.…”

“…One Dutch case study indicates that the perceived flood risk is a stronger predictor of WTP for a flood insurance than the real risk level based on geographical information [40]. Moreover, a recent Canadian study confirms the influence of the ongoing climate change and storm surge perception on the WTP of the inhabitants of a coastal city of Halifax [67]. However, an influence of risk perception in acceptability of relocation strategies facing sea-level rise in South France was recently examined by a choice experiment method, and there socio-economic variables did not explain preferences when perception variables taken into account [75].…”

“…These studies would not only improve the understanding of environmental responses to natural and anthropological forcing factors but they would also improve risk assessment and strengthen the societal resilience, according to suggestions and objectives of the UN Sendai Framework of Disaster Risk Reduction. Further coastal Mediterranean case studies should be implemented to test if the WTP in order to protect is mainly influenced by perceived risk, as demonstrated in the Canadian [67] or Chinese [60] case study, by the population's financial position, as shown in the case study from Pakistan [61], or by a more complex combination of socio-economic variables, as it is suggested in German [36] or the case study at hand.…”

Storm surge risk mitigation under ambiguity by coupled tropical cyclone and decision model

“…32,33 This is vital for the residential or household sectors in the coastal areas, as people's decisions are often influenced by ambiguity. 18,19 Even though some studies have explored the ambiguity of storm surge risks, 15,28,34,35 proposed decision support methods under ambiguity, 21,31,36,37 and estimated residents' preferences to mitigate flood risks from storm surges, 38,39,40 the scholars have not paid sufficient attention to ambiguity and estimation of both risk and ambiguity premiums for storm surge risk mitigation. To our knowledge, no study have investigated households' preferences in mitigating storm-surge inundation risks under ambiguity; therefore, in this study, we attempt to fill this gap.…”

“…Several studies have applied the stated preference method to estimate households' preferences to reduce storm surge risks, [38][39][40] however, our study is the first attempt to estimate households' preferences under ambiguity of storm surge risk mitigation (Fig. 2).…”