Forgetting the flood? An analysis of the flood risk discount over time

dc.contributor.author	Atreya, A	en
dc.contributor.author	Ferreira, S	en
dc.contributor.author	Kriesel, W	en
dc.date.accessioned	2014-06-06T06:52:32Z
dc.date.available	2014-06-06T06:52:32Z
dc.date.issued	2013	en
dc.identifier.issn	00237639	en
dc.identifier.uri	http://62.217.125.90/xmlui/handle/123456789/6065
dc.relation.uri	http://www.scopus.com/inward/record.url?eid=2-s2.0-84886912215&partnerID=40&md5=60165293241759e0e50da4af693172c9	en
dc.subject.other	flood	en
dc.subject.other	floodplain	en
dc.subject.other	hedonic analysis	en
dc.subject.other	property market	en
dc.subject.other	risk assessment	en
dc.subject.other	Dougherty County	en
dc.subject.other	Georgia	en
dc.subject.other	United States	en
dc.title	Forgetting the flood? An analysis of the flood risk discount over time	en
heal.type	journalArticle	en
heal.publicationDate	2013	en
heal.abstract	We examine whether property price differentials reflecting flood risk increase following a large flood event, and whether this change is temporary or permanent. We use single-family residential property sales in Dougherty County, Georgia, between 1985 and 2004 in a difference-in-differences spatial hedonic model framework. After the 1994 ""flood of the century,"" prices of properties in the 100- year floodplain fell significantly. This effect was, however, short-lived. In spatial hedonic models that explicitly incorporate both linear and nonlinear temporal flood-zone effects, we show that the flood risk discount disappeared between four and nine years after the flood, depending upon the specification. © 2013 by the Board of Regents of the University of Wisconsin System.	en
heal.journalName	Land Economics	en
dc.identifier.issue	4	en
dc.identifier.volume	89	en
dc.identifier.spage	577	en
dc.identifier.epage	596	en