Valuation of the environmental risks of climate change (2007-2011)

Climate change will impose additional flood risks on flood prone areas in the Netherlands. In order to make these areas climate proof adaptation and mitigation programs need to be developed. Besides the prevention of material damages such programs also prevent immaterial damages and generate a notion of safety. The latter items often lack a market price. This project assesses how the valuation of such immaterial damages can be improved, because risk is an illusive concept to many people. This project aims at improving stated preference methodologies by examining the effect of information and uncertainties on an individual’s risk perception and risk preferences. Project commissioned by BSIK and the project partners are Spatial Economics Department, VU, Wageningen University and ARCADIS.

Contact information: Prof. Marjan Hofkes, Prof. Roy Brouwer.