A growing body of evidence suggests that the global sea level has been increasing at an accelerating rate. This trend, which is linked to global warming, poses a significant threat to the communities living in low elevation coastal areas. This study aims to investigate public preferences and estimate the economic value of sea-level rise (SLR) adaptation projects in Florida. We compute the households' willingness to pay (WTP) for different attributes of SLR adaptation programs using a series of choice experiments embedded within a household survey of selected communities in Florida. We find strong spatially heterogeneous preferences in both the short-term and long-term adaptation plans. Moreover, Florida's seasonal residents are willing to pay more than yearlong residents due to their higher risk perceptions and higher income levels. There are few studies in the present literature that compare adaptation preferences across this demographic gradient. Thus, the empirical findings can contribute significantly to the design of optimal adaptation programs and policies to tackle the sea-level rise caused by climate change.
Meng, SS; Mozumder, P
Spatial heterogeneity of preferences for sea-level rise adaptation: Empirical evidence from yearlong and seasonal residents in Florida
Climate Risk Management