Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2017.12.015 |
Is Flood Risk Capitalised Into Property Values? | |
Beltran, Allan1; Maddison, David2; Elliott, Robert J. R.2 | |
2018-04-01 | |
发表期刊 | ECOLOGICAL ECONOMICS |
ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 146页码:668-685 |
文章类型 | Article |
语种 | 英语 |
国家 | England |
英文摘要 | Economic theory suggests that, other things being equal, properties located within a floodplain should suffer a price discount. A survey of the existing evidence nonetheless reveals that this price discount lies anywhere between - 75.5% to a + 61.0% price premium. In this paper we summarise and explore the wide variation in the results to obtain 'best' estimates with which to guide policy. Results from our meta-analysis comprising 37 published works and 364 point estimates indicate marked differences between studies according to when and where they were conducted. For coastal regions the results show that properties located in the floodplain command higher prices; this finding is however likely to be caused by a high correlation between omitted coastal amenities and flood risk. There is moreover, evidence that publication bias affects the coastal flooding literature. Results from meta-regression analyses intended to uncover sources of heterogeneity confirm that controlling for time elapsed since the most recent flood is especially important. For inland flooding the price discount associated with location in the 100-year floodplain is -4.6%. Although other estimates are defensible, we suggest this figure be used as a rule of thumb to determine the benefits of flood relief projects to households. |
英文关键词 | Flood risk Hedonic valuation Meta-analysis Meta-regression |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000425202700059 |
WOS关键词 | WILLINGNESS-TO-PAY ; RESIDENTIAL PROPERTY ; METAANALYSIS ; INSURANCE ; IMPACT ; HAZARD ; PRICES ; MITIGATION ; CHOICE ; INFORMATION |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15854 |
专题 | 资源环境科学 |
作者单位 | 1.London Sch Econ, London, England; 2.Univ Birmingham, Birmingham, W Midlands, England |
推荐引用方式 GB/T 7714 | Beltran, Allan,Maddison, David,Elliott, Robert J. R.. Is Flood Risk Capitalised Into Property Values?[J]. ECOLOGICAL ECONOMICS,2018,146:668-685. |
APA | Beltran, Allan,Maddison, David,&Elliott, Robert J. R..(2018).Is Flood Risk Capitalised Into Property Values?.ECOLOGICAL ECONOMICS,146,668-685. |
MLA | Beltran, Allan,et al."Is Flood Risk Capitalised Into Property Values?".ECOLOGICAL ECONOMICS 146(2018):668-685. |
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