全球智库信息集成服务系统(G2TT): DP10307 Nether Lands: Evidence on the price and perception of rare flood disasters

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP10307
	DP10307 Nether Lands: Evidence on the price and perception of rare flood disasters
	Harry Garretsen; Maarten Bosker; Gerard Marlet
发表日期	2014-12-21
出版年	2014
语种	英语
摘要	The Netherlands is one of the most flood prone countries in the world. It also has the best flood defenses in the world that are built to make floods an extremely rare event. This paper uses the unique Dutch setting to provide evidence on the price and perception of rare environmental disasters. In particular, it allows us to precisely identify whether houses in areas that would flood, in case the Dutch flood defenses fail, cost less than otherwise equal homes that do not run any risk. We do this using a border-discontinuity design that heavily relies on the (spatial) detail of our unique dataset covering every housing transaction over the period 1999-2011. Despite ?1.1 billion publicly spent on flood protection each year, we find a 1% flood risk price discount on houses in flood prone areas. The median household living in a flood prone area would be willing to pay an additional ?69 per year to be fully insured against flood risk. Our estimate implies that people?s perceived flood risk is substantially higher than the official protection levels at which the government claims to uphold the country?s flood defenses.
主题	International Trade and Regional Economics
关键词	House prices Implicit insurance Rare flood disasters
URL	https://cepr.org/publications/dp10307
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/539139
推荐引用方式 GB/T 7714	Harry Garretsen,Maarten Bosker,Gerard Marlet. DP10307 Nether Lands: Evidence on the price and perception of rare flood disasters. 2014.