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BEGIN:VEVENT
UID:6f404b1922ab11e1dce0c93253ebf8e4
CATEGORIES:Seminars
CREATED:20240704T121724
SUMMARY:Lunch Seminar: Luigi Guiso - EIEF
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:\n\nAre People Willing to Pay to Prevent Natural Disasters?\n\n\nAbstract:\
 nWe implement a survey experiment to study whether awareness of the consequ
 ences of hydrogeological risk affects people’s willingness to fight it. To 
 do so, we leverage a representative panel of 5,000 Italian individuals inte
 rviewed at quarterly frequency, starting in October 2023. We elicit survey 
 participants’ willingness to contribute to a public fund to finance investm
 ent to secure areas exposed to hydrogeological risk under different informa
 tion treatments. We find that disclosing information about the consequences
  of hydrogeological risk causes individuals to increase both support for pu
 blic funding and individual willingness to pay for the policy. Compared to 
 the control group, individuals exposed to the treatment were 9 percentage p
 oints more likely to contribute to the fund and more willing to contribute 
 an additional €29. Applying the information treatment to the whole working 
 age population could raise as much as €0.26 billion per year. We provide ev
 idence that individual willingness to pay depends on individual knowledge t
 hat the success of the policy depends critically on the willingness to pay 
 of other citizens.\n
DTSTAMP:20260617T210821Z
DTSTART:20240712T010000Z
DTEND:20240712T140000Z
SEQUENCE:0
TRANSP:OPAQUE
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