首页> 外文期刊>Journal of the Association of Environmental and Resource Economists >A City under Water: A Geospatial Analysis of Storm Damage, Changing Risk Perceptions, and Investment in Residential Housing
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A City under Water: A Geospatial Analysis of Storm Damage, Changing Risk Perceptions, and Investment in Residential Housing

机译:水下城市:风暴破坏,变化的风险感知以及住宅投资的地理空间分析

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摘要

We examine the relationships between hurricanes, flood risk saliency, and residential property investment. Our analysis utilizes data detailing capital investment projects in homes matched to spatial data delineating the locations of structures damaged by Hurricane Sandy. Utilizing a difference-in-differences estimation strategy, we estimate a significant increase in the probability a homeowner invests in a damaged building located in a flood risk area. However, we fail to detect a statistically significant change in the rate of investment among damaged properties outside of these areas. We investigate the mechanisms through which a hurricane may influence households’ perceptions of risk by modeling changes in investment between properties in and out of flood risk zones restricting attention to the set of structures that failed to experience any storm damage. Model results suggest that while a recent storm may increase perceived risks, the spatial path of storm damage is an important mechanism driving these changes.
机译:我们研究了飓风,洪水风险显着性和住宅物业投资之间的关系。我们的分析利用了详细描述房屋中的资本投资项目的数据,以及与描述遭受飓风桑迪破坏的建筑物位置的空间数据相匹配的数据。利用差异差异估算策略,我们估算了房主投资位于洪灾风险区域中受损房屋的可能性的显着增加。但是,我们未能发现这些地区以外受损物业之间的投资率在统计上有显着变化。我们通过对洪水风险区域内外的房地产之间的投资变化进行建模来研究飓风可能影响家庭对风险的感知的机制,从而将注意力集中在未能遭受任何风暴破坏的建筑物上。模型结果表明,尽管最近的风暴可能会增加感知到的风险,但风暴破坏的空间路径是驱动这些变化的重要机制。

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