Finally, in chapter 6, Sutter and Simmons’ study of tornadoes provides a nice demonstration of the value of careful applied economic analysis on disasters. One finding is that tornadoes are more lethal after dark. The reasons why this is the case will determine the appropriate policy response. Useful.

摘要: Collectively, the chapters highlight that economic analysis of disasters has important implications for government policy and that there are still important questions to be resolved. The concepts for analysing uncertain natural system, such as moral hazard, with which agricultural and resource economists are familiar, provide the foundation for an analysis. However, this book introduces other factors that need to be considered, such as how real people and markets respond to the risk of disasters and associated policies, the links between disasters and urban land markets, and the regional economic context. Messier issues such as the complex institutional issues raised by urban planning and zoning systems, and the confounding uncertainty of climate change are not fully addressed, but the approaches described in this book provide a good starting point.