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dc.contributor.authorBakkensen, Laura A.
dc.contributor.authorDing, Xiaozhou
dc.contributor.authorMa, Lala
dc.date.accessioned2019-04-26T20:38:22Z
dc.date.available2019-04-26T20:38:22Z
dc.date.issued2019-04
dc.identifier.citationBakkensen, L. A., Ding, X., & Ma, L. (2019). Flood Risk and Salience: New Evidence from the Sunshine State. Southern Economic Journal.en_US
dc.identifier.issn0038-4038
dc.identifier.doi10.1002/soej.v85.4
dc.identifier.urihttp://hdl.handle.net/10150/632130
dc.description.abstractA 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, R21en_US
dc.language.isoenen_US
dc.publisherWILEYen_US
dc.relation.urlhttps://onlinelibrary.wiley.com/toc/23258012/85/4en_US
dc.rights© 2019 by the Southern Economic Associationen_US
dc.titleFlood Risk and Salience: New Evidence from the Sunshine Stateen_US
dc.typeArticleen_US
dc.contributor.departmentUniv Arizona, Sch Govt & Publ Policyen_US
dc.identifier.journalSOUTHERN ECONOMIC JOURNALen_US
dc.description.note12 month embargo; first published: 08 March 2019en_US
dc.description.collectioninformationThis item from the UA Faculty Publications collection is made available by the University of Arizona with support from the University of Arizona Libraries. If you have questions, please contact us at repository@u.library.arizona.edu.en_US
dc.eprint.versionFinal accepted manuscripten_US
dc.source.journaltitleSouthern Economic Journal
dc.source.volume85
dc.source.issue4


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