Jove
Visualize
Contact Us

Related Concept Videos

Design Example: Analyzing Capacity Contours for Flood Risk Assessment01:17

Design Example: Analyzing Capacity Contours for Flood Risk Assessment

46
Flood risk assessment involves careful planning and analysis to ensure the safety of communities near water retention structures. Capacity contours are a vital tool in this process, as they illustrate the potential spread of water at specific levels in a given area. In the context of building a bund across a small valley, these contours play a critical role in evaluating the safety of nearby residential areas.In this example, the bund is intended to store stormwater in the valley. The engineers...
46
Framing Effects03:26

Framing Effects

7.4K
Information is everywhere and its presentation—such as how and when items are presented—can impact our perceptions and decisions surrounding the info. This broad concept umbrellas framing effects—influences that occur due to the way information is framed in its appearance, whether it’s purely the order or the specific wording of a message. Let’s take a look at numerous ways in which two versions of something can objectively say the same thing, yet we respond in...
7.4K
Design Consideration01:22

Design Consideration

186
Designing a structure involves a series of considerations, primarily the material's ultimate strength, calculated through tests that measure changes under increased force until the material reaches its breaking point or limit. The ultimate load, where the material breaks, is divided by its original cross-sectional area, resulting in the ultimate normal stress or strength. The ultimate shearing stress is another significant factor taken into account.
The factor of safety is another key...
186
Shrinkage in Concrete01:27

Shrinkage in Concrete

98
Shrinkage in concrete is primarily due to water loss from evaporation, hydration of cement, or carbonation, leading to a reduction in volume. The volumetric contraction results in volumetric strain in concrete. However, in practice, shrinkage is measured as linear strain, which is one-third of the volumetric strain.
When concrete is still in its plastic state, it can undergo a decrease in volume by about 1% of its absolute volume. This decrease is known as plastic shrinkage. It arises either...
98
The Availability Heuristic01:08

The Availability Heuristic

6.0K
A heuristic is a general problem-solving framework (Tversky & Kahneman, 1974). You can think of these as mental shortcuts that are used to solve problems. Different types of heuristics are used in different types of situations, and the impulse to use a heuristic occurs when one of five conditions is met (Pratkanis, 1989):
6.0K
The Anchoring-and-Adjustment Heuristic01:25

The Anchoring-and-Adjustment Heuristic

7.2K
In order to make good decisions, we use our knowledge and our reasoning. Often, this knowledge and reasoning is sound and solid. However, sometimes, we are swayed by biases or by others manipulating a situation. For example, let’s say you and three friends wanted to rent a house and had a combined target budget of $1,600. The realtor shows you only very run-down houses for $1,600 and then shows you a very nice house for $2,000. Might you ask each person to pay more in rent to get the...
7.2K
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies
  1. Home
  2. Influence Of A Private-public Risk Pool And An Opt-out Framing On Earthquake Protection Demand For Canadian Homeowners In Quebec And British Columbia.
  1. Home
  2. Influence Of A Private-public Risk Pool And An Opt-out Framing On Earthquake Protection Demand For Canadian Homeowners In Quebec And British Columbia.

Related Experiment Video

An R-Based Landscape Validation of a Competing Risk Model
05:37

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

2.1K

Influence of a private-public risk pool and an opt-out framing on earthquake protection demand for Canadian

Howard Kunreuther1, Lynn Conell-Price1,2, Bohan Li3,4

  • 1Wharton Risk Management and Decision Processes Center, The University of Pennsylvania, Philadelphia, Pennsylvania, USA.

Risk Analysis : an Official Publication of the Society for Risk Analysis
|February 27, 2024

View abstract on PubMed

Summary
This summary is machine-generated.
Keywords:
Canadaearthquake insuranceexperimentsframingpublic–private risk pool

More Related Videos

A Test Bed to Examine Helmet Fit and Retention and Biomechanical Measures of Head and Neck Injury in Simulated Impact
07:30

A Test Bed to Examine Helmet Fit and Retention and Biomechanical Measures of Head and Neck Injury in Simulated Impact

Published on: September 21, 2017

8.9K
A Contusive Model of Unilateral Cervical Spinal Cord Injury Using the Infinite Horizon Impactor
07:28

A Contusive Model of Unilateral Cervical Spinal Cord Injury Using the Infinite Horizon Impactor

Published on: July 24, 2012

19.6K

Related Experiment Videos

An R-Based Landscape Validation of a Competing Risk Model
05:37

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

2.1K
A Test Bed to Examine Helmet Fit and Retention and Biomechanical Measures of Head and Neck Injury in Simulated Impact
07:30

A Test Bed to Examine Helmet Fit and Retention and Biomechanical Measures of Head and Neck Injury in Simulated Impact

Published on: September 21, 2017

8.9K
A Contusive Model of Unilateral Cervical Spinal Cord Injury Using the Infinite Horizon Impactor
07:28

A Contusive Model of Unilateral Cervical Spinal Cord Injury Using the Infinite Horizon Impactor

Published on: July 24, 2012

19.6K

Public-private risk pools and opt-out enrollment significantly boost earthquake insurance uptake in British Columbia (BC) and Quebec. These strategies enhance demand for essential disaster protection.

Area of Science:

  • Environmental Science
  • Economics
  • Public Policy

Background:

  • Earthquake risk poses a significant threat to homeowners in Quebec and British Columbia (BC).
  • Current earthquake insurance uptake is suboptimal, necessitating innovative policy solutions.
  • Understanding consumer behavior is crucial for designing effective insurance programs.

Purpose of the Study:

  • To analyze the impact of default options and insurance plan structures on earthquake protection demand.
  • To compare the effectiveness of private insurance, public-private risk pools, and opt-in/opt-out enrollment strategies.
  • To inform policy decisions regarding earthquake insurance in Canada.

Main Methods:

  • Web-based choice experiments were conducted with homeowners in Quebec and BC.
  • Participants were presented with different insurance plan structures (private vs. public-private risk pools) and enrollment designs (opt-in vs. opt-out).
  • Statistical analysis, including odds ratios, was used to determine the influence of these factors on purchase likelihood.
  • Main Results:

    • Public-private risk pools significantly increased the likelihood of purchasing earthquake insurance (odds ratio ≥ 2.7) in both BC and Quebec compared to private plans.
    • Opt-out enrollment substantially boosted earthquake protection take-up compared to opt-in enrollment.
    • The findings highlight the powerful influence of framing and default options on consumer decisions.

    Conclusions:

    • Shifting to public-private risk pools and implementing opt-out enrollment are effective strategies to increase earthquake insurance coverage.
    • Policy interventions can significantly enhance household preparedness for seismic events.
    • These findings have direct implications for disaster risk management and insurance policy in Canada.