12/28/2023 0 Comments Hurricane katrina aftermath n. rampart![]() ![]() For example, neighbouring restaurants (competing businesses) on the same street may generate spatial spillover business since this attracts diners to the area, and neighbouring retail shops (complementary businesses) may also serve to attract potential spatial spillover patrons for restaurants. Spatial spillover business can arise from neighbouring establishments that offer competing or complementary products and services. Patrons of a restaurant may also patronize neighbouring entertainment venues, art galleries or retail shopping establishments. customer traffic on a street may depend on the number of neighbouring establishments in operation. In the case of retail firms traffic generated by neighbouring establishments may be an important factor in generating spatial spillover business, i.e. This seems unrealistic in that an individual firm’s decision to reopen is likely to be influenced by the decisions of neighbouring establishments. The conventional probit model that is used to analyse binary decision outcomes attempts to explain (cross-sectional) variation in the set of firms’ decisions to reopen as a function of a set of explanatory variables pertaining to each firm, but it ignores decisions that are made by neighbouring firms. The outcome of the decision is likely to depend on decisions that are made by neighbouring firms. In the aftermath of a disaster individual firms must make decisions about investing in repairs that are necessary to restore business operations. We analyse the reopened status of all firms on three major business thoroughfares in New Orleans (Carrollton Avenue, St Claude Avenue and Magazine Street) during the periods from 0 to 3 months, 0 to 6 months and 0 to 12 months after the hurricane. Spatial auto-regressive model, Spatial spillovers 1 IntroductionĮmpirical observations on how businesses respond after a major catastrophe are rare, especially for a catastrophe as great as Hurricane Katrina, which hit New Orleans, Louisiana, on August 29th, 2005.
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