Asset Details
Do you wish to reserve the book?
Learning about an Infrequent Event: Evidence from Flood Insurance Take-Up in the United States
Hey, we have placed the reservation for you!
By the way, why not check out events that you can attend while you pick your title.
Oops! Something went wrong.
Looks like we were not able to place the reservation. Kindly try again later.
Are you sure you want to remove the book from the shelf?
Learning about an Infrequent Event: Evidence from Flood Insurance Take-Up in the United States
Do you wish to request the book?
Learning about an Infrequent Event: Evidence from Flood Insurance Take-Up in the United States
Please be aware that the book you have requested cannot be checked out. If you would like to checkout this book, you can reserve another copy
We have requested the book for you!
Your request is successful and it will be processed during the Library working hours. Please check the status of your request in My Requests.
Oops! Something went wrong.
Looks like we were not able to place your request. Kindly try again later.
Journal Article
Learning about an Infrequent Event: Evidence from Flood Insurance Take-Up in the United States
2014
Overview
I examine the learning process that economic agents use to update their expectation of an uncertain and infrequently observed event. I use a new nation-wide panel dataset of large regional floods and flood insurance policies to show that insurance take-up spikes the year after a flood and then steadily declines to baseline. Residents in nonflooded communities in the same television media market increase take-up at one-third the rate of flooded communities. I find that insurance take-up is most consistent with a Bayesian learning model that allows for forgetting or incomplete information about past floods.
