Flood Risk and Salience: New Evidence from the Sunshine State.
A growing literature finds evidence that flood risk salience varies over time, spiking directly following a flood and then falling off individuals' cognitive radar in the following years. In this article, we provide new evidence of salience exploiting a hurricane cluster impacting Florida that was p...
| Publicado en: | Southern Economic Journal Vol. 85; no. 4; pp. 1132 - 1159 |
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| Autores principales: | , , |
| Formato: | Artículo |
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Wiley-Blackwell
Apr2019
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=135669181&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 135669181 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00384038 SEJ jtl: Southern Economic Journal issn: 00384038 maglogo: N pubinfo: dt: Apr2019 vid: 85 iid: 4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 135669181 10.1002/soej.12327 ppf: 1132 ppct: 27 formats: fmt: – @attributes: type: T – @attributes: type: C – @attributes: type: P size: 706KB tig: atl: Flood Risk and Salience: New Evidence from the Sunshine State. aug: au: Bakkensen, Laura A. Ding, Xiaozhou Ma, Lala su: Florida Hurricanes Flood risk Home prices Spatial variation Flood insurance Disaster resilience sug: subj: Hurricanes Florida Flood risk Home prices Spatial variation Flood insurance Disaster resilience keyword: Q51 Q54 R21 Q51 Q54 R21 ab: A growing literature finds evidence that flood risk salience varies over time, spiking directly following a flood and then falling off individuals' cognitive radar in the following years. In this article, we provide new evidence of salience exploiting a hurricane cluster impacting Florida that was preceded and followed by periods of unusual calm. Utilizing residential property sales across the state from 2002 through 2012, our main estimate finds a salience impact of −8%, on average. The salience effect persists when we base estimation only on spatial variation in prices to limit confounding from other simultaneous changes due to shifting hedonic equilibria over time. These effects range from housing prices decreases of 5.4–12.3% depending on the year of sale. Understanding flood risk salience has important implications for flood insurance and disaster policy, the benefits transfer literature, and, more broadly, our understanding of natural disaster resilience. JEL Classification: Q51, Q54, R21 pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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