Market and Government Failure in Insuring and Mitigating Natural Catastrophes: How Long-Term Contracts Can Help

This document appears as Working Paper of the Wharton Risk Management and Decision Processes Center, The Wharton School of the University of Pennsylvania. Comments are welcome and may be directed to the authors. This paper may be cited as: Howard Kunreuther and Erwann Michel‐Kerjan, “Market and Government Failure in Insuring and Mitigating Natural Catastrophes: How Long‐Term Contracts Can Help.

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