Earthquake risk in Japan: Consumers' risk mitigation responses after the Great East Japan earthquake

Michio Naoi, Miki Seko, Takuya Ishino

Research output: Contribution to journalReview article

9 Citations (Scopus)

Abstract

The destructive impact of the Great East Japan Earthquake and subsequent tsunami on March 11, 2011 has enhanced consumer's earthquake preparedness even in unaffected areas. This paper uses unique survey data collected after the earthquake to study how consumers reacted to this catastrophic event. We find that self-reported, perceived preparedness for natural disasters has significantly improved even among low-income households after March 11, but that post-quake intentions for more specific risk mitigation activities were systematically associated with household income and wealth levels. Our results indicate that the recent events might have widened the gap in disaster preparedness between rich and poor.

Original languageEnglish
Pages (from-to)519-530
Number of pages12
JournalJournal of Economic Issues
Volume46
Issue number2
DOIs
Publication statusPublished - 2012 Jun

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Keywords

  • disaster preparedness
  • earthquake insurance
  • earthquake risk
  • risk mitigation

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics

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