9714401 Kunreuther The project will examine the role of the private and public sectors in managing catastrophe risks from natural hazards. The goal is to develop a feasible program for minimizing future losses from natural hazards through mitigation while enhancing the availability and reliability of financial protection against damage from natural hazards. Alternative incentive programs for encouraging property owners to adopt cost-effective mitigation measures will be designed and evaluated. Also, new private capital market initiatives, as well as the public sector as sources of funds when large-scale earthquakes or hurricanes occur, will be examined. The aggregate impact of both loss reduction initiatives and risk bearing and pooling policies will be evaluated using science-based micro-modeling approaches. This research will further the understanding of decision making processes and strategies related to risk reduction. ***
