b'26Estimating Farmers economic value for reducing risk to flooding events Doherty E1, Mellet S1, OHora D2, Ryan M3, on Behalf of the RiskAquaSoil Project1National University of Ireland, Galway, Whitaker Institute2National University of Ireland, Galway, School of Psychology3Agricultural Economics and Farm Surveys, Teagasc, Athenry, Co. Galway, IrelandClimate change has both direct and indirect effects on agricultural productivity, including dueto changing rainfall patterns, drought, flooding and the geographical redistribution of pest and diseases. Extreme weather events are projected to increase in the coming decades, however,uncertainties remain in relation to the scale and extent of the impact on farming. Using the discrete choice experiment (DCE) method from a representative sample of Irish farmers, this paper analyses farmers economic value associated with insurance against extreme weather events, including flooding events. We find that farmers have a slight but significant preference for index-based insurance and prefer longer insurance contracts. Approximately 30 percent of farmers indicated that they are concerned with flooding events and a larger majority of farmer are concerned with storm damage. In additional analyses, we find that approximately 40 percent of farmers would be willing to allow some flooding on their land to reduce the risk of downstream flooding to local communities. This research is part of the RiskAquaoil Project co-financed by the European Regional Develop-ment Fund (FEDER) through the cooperation programme Interreg Atlantia Area, with reference EAPA272/2016.70'