John Feddersen, Robert Metcalfe, Mark Wooden, 02 November 2012

Hurricane Sandy destroyed an massive amount of US wealth, but the impact on human wellbeing surely goes far beyond any dollar figure. This column argues that the ‘subjective wellbeing’ literature can inform policy choices in the area of emergency response. Since the ‘happiness’ cost of short-term weather changes far exceeds that of long-term changes, prevention policies are likely to yield a higher payoff in terms of life satisfaction than rebuilding policies with equivalent financial payoffs.

Howard Kunreuther , Erwann Michel-Kerjan, 22 January 2008

Public policies must address large-scale risks that private insurers are unwilling to cover. Here are five economic principles for providing insurance against catastrophes and an evaluation of the US terrorism insurance programme.

Events

CEPR Policy Research