Data/hora: 12/06/2024 10:41:04

Provedor de dados: | 31
País: | United States
Título: | FLOODING RISK AND HOUSING VALUES: AN ECONOMIC ASSESSMENT OF ENVIRONMENTAL HAZARD
Autores: | Daniel,   Vanessa; Florax,   Raymond J.G.M.; Rietveld,   Piet.
Data: | 2008-02-25
Ano: | 2007
Palavras-chave: | Valuation; Environmental risk; Meta-analysis; Hedonic pricing; Environmental Economics and Policy; Land Economics/Use; D81; Q51; Q54.
Resumo: | Climate change, the ‘boom and bust’ cycles of rivers, and altered water resource management practice have caused significant changes in the spatial distribution of the risk of flooding. Hedonic pricing studies, predominantly for the US, have assessed the spatial incidence of risk and the associated implicit price of flooding risk. Using these implicit price estimates and their associated standard errors, we perform a meta-analysis and find that houses located in the 100-year floodplain have a –0.3 to –0.8% lower price. The actual occurrence of a flooding event or increased stringency in disclosure rules causes ex ante prices to differ from ex post prices, but these effects are small. The marginal willingness to pay for reduced risk exposure has increased over time, and it is slightly lower for areas with a higher per capita income. We show that obfuscating amenity effects and risk exposure associated with proximity to water causes systematic bias in the implicit price of flooding risk.
Tipo: | Working or Discussion Paper
Idioma: | Inglês

Identificador:

26514

http://purl.umn.edu/7333

Relação:

Purdue University&gt;Department of Agricultural Economics&gt;Working Papers

Working Paper

07-02

Formato: | 26