@techreport{NBERw12503, title = "Rules Rather Than Discretion:
Lessons from Hurricane Katrina", author = "Howard Kunreuther and
Mark Pauly", institution = "National Bureau of Economic
Research", type = "Working Paper", series = "Working Paper
Series", number = "12503", year = "2006", month = "August", URL
= "http://www.nber.org/papers/w12503", abstract = {This paper
explores options for programs to be put in place prior to a
disaster to avoid large and often poorly-managed expenditures
following a catastrophe and to provide appropriate protection
against the risk of those large losses which do occur. The lack
of interest in insurance protection and mitigation by property
owners and by public sector agencies prior to a disaster often
creates major problems following a catastrophic event for
victims and the government. Property owners who suffer severe
damage may not have the financial resources easily at hand to
rebuild their property and hence will demand relief. The
government is then likely to respond with