메뉴 건너뛰기




Volumn 136, Issue , 2017, Pages 1-13

Bridging the Gap Between Revealed and Stated Preferences in Flood-prone Housing Markets

Author keywords

[No Author keywords available]

Indexed keywords

CONTINGENT VALUATION; ECONOMIC INSTRUMENT; FLOOD DAMAGE; HEDONIC ANALYSIS; HOUSING MARKET; RISK ASSESSMENT; RISK PERCEPTION; WILLINGNESS TO PAY;

EID: 85012288678     PISSN: 09218009     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ecolecon.2017.01.022     Document Type: Article
Times cited : (28)

References (56)
  • 1
    • 0028056788 scopus 로고
    • Combining revealed and stated preference methods for valuing environmental amenities
    • Adamowicz, W., Louviere, J., Williams, M., Combining revealed and stated preference methods for valuing environmental amenities. J. Environ. Econ. Manag. 26:3 (1994), 271–292.
    • (1994) J. Environ. Econ. Manag. , vol.26 , Issue.3 , pp. 271-292
    • Adamowicz, W.1    Louviere, J.2    Williams, M.3
  • 2
    • 0030905446 scopus 로고    scopus 로고
    • Perceptions versus objective measures of environmental quality in combined revealed and stated preference models of environmental valuation
    • Adamowicz, W., Swait, J., Boxall, P., Louviere, J., Williams, M., Perceptions versus objective measures of environmental quality in combined revealed and stated preference models of environmental valuation. J. Environ. Econ. Manag. 32:1 (1997), 65–84.
    • (1997) J. Environ. Econ. Manag. , vol.32 , Issue.1 , pp. 65-84
    • Adamowicz, W.1    Swait, J.2    Boxall, P.3    Louviere, J.4    Williams, M.5
  • 3
    • 85070421976 scopus 로고    scopus 로고
    • Graduated flood risks and property prices in Galveston County
    • Atreya, A., Czajkowski, J., Graduated flood risks and property prices in Galveston County. Real Estate Econ., 2016.
    • (2016) Real Estate Econ.
    • Atreya, A.1    Czajkowski, J.2
  • 4
    • 84874586466 scopus 로고    scopus 로고
    • Thirty years of prospect theory in economics: a review and assessment
    • Barberis, N.C., Thirty years of prospect theory in economics: a review and assessment. J. Econ. Perspect. 27:1 (2013), 173–195.
    • (2013) J. Econ. Perspect. , vol.27 , Issue.1 , pp. 173-195
    • Barberis, N.C.1
  • 5
    • 84877925818 scopus 로고    scopus 로고
    • Changes in implicit flood risk premiums: empirical evidence from the housing market
    • Bin, O., Landry, C.E., Changes in implicit flood risk premiums: empirical evidence from the housing market. J. Environ. Econ. Manag. 65:3 (2013), 361–376.
    • (2013) J. Environ. Econ. Manag. , vol.65 , Issue.3 , pp. 361-376
    • Bin, O.1    Landry, C.E.2
  • 6
    • 40449115307 scopus 로고    scopus 로고
    • Flood hazards, insurance rates, and amenities: evidence from the coastal housing market
    • Bin, O., Kruse, J.B., Landry, C.E., Flood hazards, insurance rates, and amenities: evidence from the coastal housing market. J. Risk Insur. 75:1 (2008), 63–82.
    • (2008) J. Risk Insur. , vol.75 , Issue.1 , pp. 63-82
    • Bin, O.1    Kruse, J.B.2    Landry, C.E.3
  • 7
    • 48749103143 scopus 로고    scopus 로고
    • Viewscapes and flood hazard: coastal housing market response to amenities and risk
    • Bin, O., Crawford, T.W., Kruse, J.B., Landry, C.E., Viewscapes and flood hazard: coastal housing market response to amenities and risk. Land Econ. 84:3 (2008), 434–448.
    • (2008) Land Econ. , vol.84 , Issue.3 , pp. 434-448
    • Bin, O.1    Crawford, T.W.2    Kruse, J.B.3    Landry, C.E.4
  • 8
    • 81255168022 scopus 로고    scopus 로고
    • Loss aversion and anchoring in commercial real estate pricing: empirical evidence and price index implications
    • Bokhari, S., Geltner, D., Loss aversion and anchoring in commercial real estate pricing: empirical evidence and price index implications. Real Estate Econ. 39:4 (2011), 635–670.
    • (2011) Real Estate Econ. , vol.39 , Issue.4 , pp. 635-670
    • Bokhari, S.1    Geltner, D.2
  • 9
    • 84864316418 scopus 로고    scopus 로고
    • Monetary valuation of insurance against flood risk under climate change
    • Botzen, W.W.J., van den Bergh, J.C.J.M., Monetary valuation of insurance against flood risk under climate change. Int. Econ. Rev. 53:3 (2012), 1005–1025.
    • (2012) Int. Econ. Rev. , vol.53 , Issue.3 , pp. 1005-1025
    • Botzen, W.W.J.1    van den Bergh, J.C.J.M.2
  • 10
    • 84935437015 scopus 로고
    • A test of the expected utility model: evidence from earthquake risks
    • Brookshire, D.S., Thayer, M.A., Tschirhart, J., Schulze, W.D., A test of the expected utility model: evidence from earthquake risks. J. Polit. Econ. 93:2 (1985), 369–389.
    • (1985) J. Polit. Econ. , vol.93 , Issue.2 , pp. 369-389
    • Brookshire, D.S.1    Thayer, M.A.2    Tschirhart, J.3    Schulze, W.D.4
  • 11
    • 46049096611 scopus 로고    scopus 로고
    • ‘It'll never happen to me’: understanding public awareness of local flood risk
    • Burningham, K., Fielding, J., Thrush, D., ‘It'll never happen to me’: understanding public awareness of local flood risk. Disasters 32:2 (2008), 216–238.
    • (2008) Disasters , vol.32 , Issue.2 , pp. 216-238
    • Burningham, K.1    Fielding, J.2    Thrush, D.3
  • 12
    • 0036828032 scopus 로고    scopus 로고
    • Alternative non-market value-elicitation methods: are the underlying preferences the same?
    • Cameron, T.A., Poe, G.L., Ethier, R.G., Schulze, W.D., Alternative non-market value-elicitation methods: are the underlying preferences the same?. J. Environ. Econ. Manag. 44:3 (2002), 391–425.
    • (2002) J. Environ. Econ. Manag. , vol.44 , Issue.3 , pp. 391-425
    • Cameron, T.A.1    Poe, G.L.2    Ethier, R.G.3    Schulze, W.D.4
  • 13
    • 0036881028 scopus 로고    scopus 로고
    • Market failure in information: the national flood insurance program
    • Chivers, J., Flores, N.E., Market failure in information: the national flood insurance program. Land Econ. 78:4 (2002), 515–521.
    • (2002) Land Econ. , vol.78 , Issue.4 , pp. 515-521
    • Chivers, J.1    Flores, N.E.2
  • 14
    • 0035660013 scopus 로고    scopus 로고
    • Values as determinants of preferences for housing attributes
    • Collen, H., Hoekstra, J., Values as determinants of preferences for housing attributes. J. Housing Built Environ. 16:3–4 (2001), 285–306.
    • (2001) J. Housing Built Environ. , vol.16 , Issue.3-4 , pp. 285-306
    • Collen, H.1    Hoekstra, J.2
  • 15
    • 70449515418 scopus 로고    scopus 로고
    • Flooding risk and housing values: an economic assessment of environmental hazard
    • Daniel, V.E., Florax, R.J., Rietveld, P., Flooding risk and housing values: an economic assessment of environmental hazard. Ecol. Econ. 69:2 (2009), 355–365.
    • (2009) Ecol. Econ. , vol.69 , Issue.2 , pp. 355-365
    • Daniel, V.E.1    Florax, R.J.2    Rietveld, P.3
  • 16
    • 0041829121 scopus 로고    scopus 로고
    • The value of statistical life in road safety: a meta-analysis
    • De Blaeij, A., Florax, R.J., Rietveld, P., Verhoef, E., The value of statistical life in road safety: a meta-analysis. Accid. Anal. Prev. 35:6 (2003), 973–986.
    • (2003) Accid. Anal. Prev. , vol.35 , Issue.6 , pp. 973-986
    • De Blaeij, A.1    Florax, R.J.2    Rietveld, P.3    Verhoef, E.4
  • 17
    • 85042327523 scopus 로고    scopus 로고
    • Predicting property prices, capital-at-risk and market responses to natural hazards: a comparison of kriging with hedonic analysis for small samples
    • De Koning, K., Filatova, T., Bin, O., Predicting property prices, capital-at-risk and market responses to natural hazards: a comparison of kriging with hedonic analysis for small samples. Environ. Resour. Econ., 2016, 1–17.
    • (2016) Environ. Resour. Econ. , pp. 1-17
    • De Koning, K.1    Filatova, T.2    Bin, O.3
  • 18
    • 34347262022 scopus 로고    scopus 로고
    • Wildfire risk and housing prices: a case study from Colorado Springs
    • Donovan, G.H., Champ, P.A., Butry, D.T., Wildfire risk and housing prices: a case study from Colorado Springs. Land Econ. 83 (2007), 217–233.
    • (2007) Land Econ. , vol.83 , pp. 217-233
    • Donovan, G.H.1    Champ, P.A.2    Butry, D.T.3
  • 19
    • 0027066526 scopus 로고
    • Spatial autocorrelation and neighborhood quality
    • Dubin, R.A., Spatial autocorrelation and neighborhood quality. Reg. Sci. Urban Econ. 22:3 (1992), 433–452.
    • (1992) Reg. Sci. Urban Econ. , vol.22 , Issue.3 , pp. 433-452
    • Dubin, R.A.1
  • 20
    • 0005195148 scopus 로고    scopus 로고
    • Combining Revealed and Stated Data to Examine Decisions of Housing Location: Discrete-choice Hedonic and Conjoint Analysis
    • University of Kansas Mimeo
    • Earnhart, D., Combining Revealed and Stated Data to Examine Decisions of Housing Location: Discrete-choice Hedonic and Conjoint Analysis. 1998, University of Kansas, Mimeo.
    • (1998)
    • Earnhart, D.1
  • 21
    • 0035049317 scopus 로고    scopus 로고
    • Combining revealed and stated preference methods to value environmental amenities at residential locations
    • Earnhart, D., Combining revealed and stated preference methods to value environmental amenities at residential locations. Land Econ. 77:1 (2001), 12–29.
    • (2001) Land Econ. , vol.77 , Issue.1 , pp. 12-29
    • Earnhart, D.1
  • 22
    • 68449086002 scopus 로고    scopus 로고
    • The economy needs agent-based modelling
    • Farmer, J.D., Foley, D., The economy needs agent-based modelling. Nature 460:7256 (2009), 685–686.
    • (2009) Nature , vol.460 , Issue.7256 , pp. 685-686
    • Farmer, J.D.1    Foley, D.2
  • 23
    • 84949725902 scopus 로고    scopus 로고
    • Empirical agent-based land market: Integrating adaptive economic behaviour in urban land-use models
    • Filatova, T., Empirical agent-based land market: Integrating adaptive economic behaviour in urban land-use models. Comput. Environ. Urban. Syst., 2014.
    • (2014) Comput. Environ. Urban. Syst.
    • Filatova, T.1
  • 25
    • 30344456717 scopus 로고    scopus 로고
    • A meta-analysis of the willingness to pay for reductions in pesticide risk exposure
    • Florax, R.J.G.M., Travisi, C.M., Nijkamp, P., A meta-analysis of the willingness to pay for reductions in pesticide risk exposure. Eur. Rev. Agric. Econ. 32:4 (2005), 441–467.
    • (2005) Eur. Rev. Agric. Econ. , vol.32 , Issue.4 , pp. 441-467
    • Florax, R.J.G.M.1    Travisi, C.M.2    Nijkamp, P.3
  • 26
    • 84958161236 scopus 로고    scopus 로고
    • The Measurement of Environmental and Resource Values: Theory and Methods
    • Routledge
    • Freeman, A.M. III, Herriges, J.A., Kling, C.L., The Measurement of Environmental and Resource Values: Theory and Methods. 2003, Routledge.
    • (2003)
    • Freeman, A.M.1    Herriges, J.A.2    Kling, C.L.3
  • 27
    • 0141767597 scopus 로고    scopus 로고
    • Environmental determinants of housing prices: the impact of flood zone status
    • Harrison, D.T., Smersh, G., Schwartz, A., Environmental determinants of housing prices: the impact of flood zone status. J. Real Estate Res. 21:1–2 (2001), 3–20.
    • (2001) J. Real Estate Res. , vol.21 , Issue.1-2 , pp. 3-20
    • Harrison, D.T.1    Smersh, G.2    Schwartz, A.3
  • 28
    • 0347466726 scopus 로고    scopus 로고
    • Combining sources of preference data
    • Hensher, D., Louviere, J., Swait, J., Combining sources of preference data. J. Econ. 89:1 (1998), 197–221.
    • (1998) J. Econ. , vol.89 , Issue.1 , pp. 197-221
    • Hensher, D.1    Louviere, J.2    Swait, J.3
  • 29
    • 0001288023 scopus 로고
    • An axiomatic approach to measurable utility
    • Herstein, I.N., Milnor, J., An axiomatic approach to measurable utility. Econometrica, 1953, 291–297.
    • (1953) Econometrica , pp. 291-297
    • Herstein, I.N.1    Milnor, J.2
  • 30
    • 0000125532 scopus 로고
    • Prospect theory: an analysis of decision under risk
    • Kahneman, D., Tversky, A., Prospect theory: an analysis of decision under risk. Econometrica, 1979, 263–291.
    • (1979) Econometrica , pp. 263-291
    • Kahneman, D.1    Tversky, A.2
  • 31
    • 85027486234 scopus 로고    scopus 로고
    • Examining flood insurance claims in the United States: six key findings
    • Kousky, C., Michel-Kerjan, E., Examining flood insurance claims in the United States: six key findings. J. Risk Insur., 2015.
    • (2015) J. Risk Insur.
    • Kousky, C.1    Michel-Kerjan, E.2
  • 32
    • 85012273967 scopus 로고    scopus 로고
    • Objective Functions in Agricultural Decision-making: A Comparison of the Effects of Expected Utility, Regret-adjusted Expected Utility, and Prospect Theory Maximization
    • Laciana, C., Weber, E., Bert, F., Podestá, G., González, X., Letson, D., Objective Functions in Agricultural Decision-making: A Comparison of the Effects of Expected Utility, Regret-adjusted Expected Utility, and Prospect Theory Maximization. Working Papers Series, Paper WP-06-01, Columbia University, 2006.
    • (2006) Working Papers Series, Paper WP-06-01, Columbia University
    • Laciana, C.1    Weber, E.2    Bert, F.3    Podestá, G.4    González, X.5    Letson, D.6
  • 33
    • 0035662739 scopus 로고    scopus 로고
    • What experimental protocol influence disparities between actual and hypothetical stated values?
    • List, J.A., Gallet, C.A., What experimental protocol influence disparities between actual and hypothetical stated values?. Environ. Resour. Econ. 20:3 (2001), 241–254.
    • (2001) Environ. Resour. Econ. , vol.20 , Issue.3 , pp. 241-254
    • List, J.A.1    Gallet, C.A.2
  • 34
    • 84856367680 scopus 로고    scopus 로고
    • Flood risk perception in lands “protected” by 100-year levees
    • Ludy, J., Kondolf, G.M., Flood risk perception in lands “protected” by 100-year levees. Nat. Hazards 61:2 (2012), 829–842.
    • (2012) Nat. Hazards , vol.61 , Issue.2 , pp. 829-842
    • Ludy, J.1    Kondolf, G.M.2
  • 35
    • 0001241521 scopus 로고
    • Uncertain hazards, insurance, and consumer choice: evidence form housing markets
    • MacDonald, D.N., Murdoch, J.C., White, H.L., Uncertain hazards, insurance, and consumer choice: evidence form housing markets. Land Econ. 63:4 (1987), 361–371.
    • (1987) Land Econ. , vol.63 , Issue.4 , pp. 361-371
    • MacDonald, D.N.1    Murdoch, J.C.2    White, H.L.3
  • 36
    • 0009499341 scopus 로고
    • Flood hazard pricing and insurance premium differentials: evidence from the housing market
    • MacDonald, D.N., White, H.L., Taube, P.M., Huth, W.L., Flood hazard pricing and insurance premium differentials: evidence from the housing market. The Journal of Risk and Insurance 57:4 (1990), 654–663.
    • (1990) The Journal of Risk and Insurance , vol.57 , Issue.4 , pp. 654-663
    • MacDonald, D.N.1    White, H.L.2    Taube, P.M.3    Huth, W.L.4
  • 37
    • 0035050175 scopus 로고    scopus 로고
    • Estimation of perceived risk and its effect on property values
    • McCluskey, J.J., Rausser, G.C., Estimation of perceived risk and its effect on property values. Land Econ. 77:1 (2001), 42–55.
    • (2001) Land Econ. , vol.77 , Issue.1 , pp. 42-55
    • McCluskey, J.J.1    Rausser, G.C.2
  • 38
    • 0003267950 scopus 로고
    • Using surveys to value public goods: the contingent valuation method
    • Mitchell, R.C., Carson, R.T., Using surveys to value public goods: the contingent valuation method. Resources for the Future, 1989.
    • (1989) Resources for the Future
    • Mitchell, R.C.1    Carson, R.T.2
  • 39
    • 84983991345 scopus 로고
    • The impact of natural hazards on housing values: the Loma Prieta earthquake
    • Murdoch, J.C., Singh, H., Thayer, M., The impact of natural hazards on housing values: the Loma Prieta earthquake. Real Estate Econ. 21:2 (1993), 167–184.
    • (1993) Real Estate Econ. , vol.21 , Issue.2 , pp. 167-184
    • Murdoch, J.C.1    Singh, H.2    Thayer, M.3
  • 40
    • 17644395703 scopus 로고    scopus 로고
    • A meta-analysis of hypothetical bias in stated preference valuation
    • Murphy, J.J., Allen, P.G., Stevens, T.H., Weatherhead, D., A meta-analysis of hypothetical bias in stated preference valuation. Environ. Resour. Econ. 30:3 (2005), 313–325.
    • (2005) Environ. Resour. Econ. , vol.30 , Issue.3 , pp. 313-325
    • Murphy, J.J.1    Allen, P.G.2    Stevens, T.H.3    Weatherhead, D.4
  • 41
    • 79951926862 scopus 로고    scopus 로고
    • The impact of floods on house prices: an imperfect information approach with myopia and amnesia
    • Pryce, G., Chen, Y., Galster, G., The impact of floods on house prices: an imperfect information approach with myopia and amnesia. Hous. Stud. 26:2 (2011), 259–279.
    • (2011) Hous. Stud. , vol.26 , Issue.2 , pp. 259-279
    • Pryce, G.1    Chen, Y.2    Galster, G.3
  • 42
    • 7244228471 scopus 로고    scopus 로고
    • Is housing unaffordable? Why isn't it more affordable?
    • Quigley, J.M., Raphael, S., Is housing unaffordable? Why isn't it more affordable?. J. Econ. Perspect. 18:1 (2004), 191–214.
    • (2004) J. Econ. Perspect. , vol.18 , Issue.1 , pp. 191-214
    • Quigley, J.M.1    Raphael, S.2
  • 43
  • 44
    • 0004708366 scopus 로고
    • Housing prices and flood risk: an examination using spline regression
    • Speyrer, J.F., Ragas, W.R., Housing prices and flood risk: an examination using spline regression. J. Real Estate Financ. Econ. 4 (1991), 395–407.
    • (1991) J. Real Estate Financ. Econ. , vol.4 , pp. 395-407
    • Speyrer, J.F.1    Ragas, W.R.2
  • 45
    • 85012282997 scopus 로고    scopus 로고
    • Statista, http://www.statista.com/markets/411/topic/970/economy/, 2016.
    • (2016)
    • Statista1
  • 46
    • 84890638058 scopus 로고    scopus 로고
    • The Economics of Climate Change: The Stern Review
    • Cambridge University Press
    • Stern, N.H., The Economics of Climate Change: The Stern Review. 2007, Cambridge University Press.
    • (2007)
    • Stern, N.H.1
  • 47
    • 66049110085 scopus 로고    scopus 로고
    • Agent-based computational economics: a constructive approach to economic theory
    • Tesfatsion, L., Agent-based computational economics: a constructive approach to economic theory. Handbook of Computational Economics, 2, 2006, 831–880.
    • (2006) Handbook of Computational Economics , vol.2 , pp. 831-880
    • Tesfatsion, L.1
  • 48
    • 51249165947 scopus 로고
    • Housing choice processes: stated versus revealed modelling approaches
    • Timmermans, H., Molin, E., Noortwijk, L., Housing choice processes: stated versus revealed modelling approaches. Neth. J. Housing Built Environ. 9:3 (1994), 215–227.
    • (1994) Neth. J. Housing Built Environ. , vol.9 , Issue.3 , pp. 215-227
    • Timmermans, H.1    Molin, E.2    Noortwijk, L.3
  • 49
    • 31744450082 scopus 로고
    • Advances in prospect theory: cumulative representation of uncertainty
    • Tversky, A., Kahneman, D., Advances in prospect theory: cumulative representation of uncertainty. J. Risk Uncertain. 5:4 (1992), 297–323.
    • (1992) J. Risk Uncertain. , vol.5 , Issue.4 , pp. 297-323
    • Tversky, A.1    Kahneman, D.2
  • 50
    • 85012239835 scopus 로고    scopus 로고
    • United States Census Bureau, http://www.census.gov/hhes/www/cpstables/032012/hhinc/toc.htm, 2016.
    • (2016)
    • United States Census Bureau1
  • 51
    • 84884079276 scopus 로고    scopus 로고
    • Theory of Games and Economic Behavior
    • Princeton University Press
    • Von Neumann, J., Morgenstern, O., Theory of Games and Economic Behavior. 2007, Princeton University Press.
    • (2007)
    • Von Neumann, J.1    Morgenstern, O.2
  • 52
    • 0003134720 scopus 로고
    • A comparison of revealed preference and stated preference models of travel behaviour
    • Wardman, M., A comparison of revealed preference and stated preference models of travel behaviour. JTEP, 1988, 71–91.
    • (1988) JTEP , pp. 71-91
    • Wardman, M.1
  • 53
    • 24944475541 scopus 로고    scopus 로고
    • Changes in tropical cyclone number, duration, and intensity in a warming environment
    • Webster, P.J., Holland, G.J., Curry, J.A., Chang, H.R., Changes in tropical cyclone number, duration, and intensity in a warming environment. Science 309:5742 (2005), 1844–1846.
    • (2005) Science , vol.309 , Issue.5742 , pp. 1844-1846
    • Webster, P.J.1    Holland, G.J.2    Curry, J.A.3    Chang, H.R.4
  • 54
    • 56149116922 scopus 로고    scopus 로고
    • Combining revealed and stated preference data to estimate the nonmarket value of ecological services: an assessment of the state of the science
    • Whitehead, J.C., Pattanayak, S.K., Van Houtven, G.L., Gelso, B.R., Combining revealed and stated preference data to estimate the nonmarket value of ecological services: an assessment of the state of the science. J. Econ. Surv. 22:5 (2008), 872–908.
    • (2008) J. Econ. Surv. , vol.22 , Issue.5 , pp. 872-908
    • Whitehead, J.C.1    Pattanayak, S.K.2    Van Houtven, G.L.3    Gelso, B.R.4
  • 55
    • 79951920717 scopus 로고    scopus 로고
    • Understanding risk, choice and amenity in an urban area at risk of flooding
    • Willis, K.F., Natalier, K., Revie, M., Understanding risk, choice and amenity in an urban area at risk of flooding. Hous. Stud. 26:02 (2011), 225–239.
    • (2011) Hous. Stud. , vol.26 , Issue.2 , pp. 225-239
    • Willis, K.F.1    Natalier, K.2    Revie, M.3
  • 56
    • 84920943397 scopus 로고    scopus 로고
    • Housing choice and preference: theory and measurement
    • Zinas, B.Z., Jusan, M.B.M., Housing choice and preference: theory and measurement. Procedia. Soc. Behav. Sci. 49 (2012), 282–292.
    • (2012) Procedia. Soc. Behav. Sci. , vol.49 , pp. 282-292
    • Zinas, B.Z.1    Jusan, M.B.M.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.