Measuring Flood Risk: What Are NYC Residents Willing to Pay for a Flood Protection System? – J. Scott Holladay
This policy brief, with analysis conducted by a small team including Baker Center Faculty Fellow Dr Scott Holladay, examines how willingness to pay (WTP) for a flood protection system varies depending on exposure to flood risk. This brief uses flood maps and parcel-level data to determine households within and beyond the 100-year flood plain in NYC, and then households within the 100-year floodplain and within the 500-year floodplain are surveyed to determine WTP. The brief finds that households in the 500-year flood plain have a lower WTP than those within the 100-year floodplain.
The full policy brief can be read here.