Handbook on the Economics of Disasters

Edited by Mark Skidmore, Professor of Economics/Morris Chair in State and Local Government Finance and Policy, Department of Agricultural, Food, and Resource Economics/Department of Economics, Michigan State University, East Lansing, Michigan, US

‘The Handbook on the Economics of Disasters is a masterpiece. It is an indispensable resource for those who want to understand and conduct research on how economic decisions and regional/national economies are affected by disasters.’

• Contents:1 Introduction to the Handbook on the Economics of Disasters 1Mark Skidmore2 A taxonomy of natural disasters 13Mark SkidmorePART I THEORETICAL CONSIDERATIONS IN EVALUATINGDISASTER IMPACTS3 A few good models for economic analysis of disasters:can your model handle the truth? 30Yasuhide Okuyama4 Behavioral economic consequences of disasters 50Adam Rose5 The role of biases and heuristics in addressing natural disasters 72Howard Kunreuther and Wouter Botzen6 Risk preferences and natural disasters: a review of theoreticaland empirical themes 86Laura Bakkensen and Marc N. ContePART II EVALUATION OF DISASTER CONSEQUENCESSECTION I Economic Impacts7 Economic consequences of pre-COVID-19 epidemics: a literature review 117Ilan Noy and Tomáš Uher8 Natural disasters and economic growth: revisiting the evidence 134Jesús Crespo Cuaresma9 The impact of natural disasters on economic growth 150Eduardo A. Cavallo, Oscar Becerra and Laura Acevedo10 Assessing the impact of natural disasters on industry gross domesticproduct in the United States 193Monica Escaleras, Anand Jha and Christopher J. Boudreaux11 The fiscal consequences of natural disasters 208Tatyana DeryuginaSECTION II Social Impacts12 Natural disasters and self-reported well-being: a review of the literature 230Michael Berlemann and Marina Eurich13 Preferences, behavior, and welfare outcomes against disasters: a review 252Yasuyuki Sawada14 Effect of major disasters on geographic mobility intentions:the case of the Fukushima nuclear accident 275Eiji Yamamura, Chisako Yamane, Shoko Yamane and Yoshiro TsutsuiPART III RISK MANAGEMENT, RESILIENCY AND VULNERABILITYSECTION I Insurance15 The role of insurance in integrated disaster risk managementwith a focus on how insurance can support climate adaptationand disaster resilience 294Swenja Surminski16 Supplying insurance for natural disasters: a retrospective studyof property insurer strategies 319Patricia H. Born and J. Bradley KarlSECTION II Risk Assessment and Reduction17 Expanded disaster risk assessment using agent-based modeling:a case study on floods in Sri Lanka 355Brian Walsh and Stéphane Hallegatte18 Using weather modification to subdue severe weather 389Scott Knowles and Mark SkidmoreSECTION III Resilience and Vulnerability19 Advances in the empirical estimation of disaster resilience 401Noah Dormady, Adam Rose and C. Blain Morin20 State capacity and vulnerability to natural disasters 434Richard S. J. TolSECTION IV Recovery and Response21 Small business recovery: lessons from Hurricane Katrina andthe COVID-19 pandemic 459Maria I. Marshall, Bhagyashree Katare and Corinne B. Valdivia22 Disaster challenges and entrepreneurial responses 472Virgil Henry Storr, Stefanie Haeffele and Alexander W. CraigIndex 487