Learning from Extreme Events: Risk Perceptions after the Flood
نویسنده
چکیده
This paper e.vatnines whether a severe flood causes homeowners to update their assessment of ßood risk as seen in a change in the price of fhodphtin property. I use data on all single-family. residential property sales in St, Louis County. Missouri, hetweeti 1979 and 2006 in a repeat-sales model and a property fixed-effects model. After the ¡993 ßood on the Mi.ssouri and Mississippi rivers, property prices in 100-year fhodplains did not change .significantly, but price.^ in 500-year fhodplains declined by between 2% and 5%. All property prices in nntnicipalities located on the rivers fell postfhodby 6% to 70%. (JEL Q51, Q54)
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Learning in the Aftermath of Extreme Floods: Community Damage and Stakeholder Perceptions of Future Risk
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