German households willing to pay €50 annually for flood risk reduction
The article explores how much people in Germany are willing to pay for safety measures to reduce the risk of floods. The researchers surveyed German households to find out their willingness to invest in flood risk reduction. They found that the median annual willingness-to-pay is 50 €, with prior experience with flooding being a key factor. The study also shows that younger people tend to be more willing to pay for safety measures, possibly due to their awareness of environmental issues. Overall, the findings suggest that government initiatives for flood risk reduction could be effective in Germany, especially if people have better knowledge of climate risks.