RT Journal Article SR Electronic T1 Forgetting the Flood? An Analysis of the Flood Risk Discount over Time JF Land Economics JO Land Econ FD University of Wisconsin Press SP 577 OP 596 DO 10.3368/le.89.4.577 VO 89 IS 4 A1 Atreya, Ajita A1 Ferreira, Susana A1 Kriesel, Warren YR 2013 UL http://le.uwpress.org/content/89/4/577.abstract AB We examine whether property price differentials reflecting flood risk increase following a large flood event, and whether this change is temporary or permanent. We use single-family residential property sales in Dougherty County, Georgia, between 1985 and 2004 in a difference-in-differences spatial hedonic model framework. After the 1994 “flood of the century,” prices of properties in the 100-year floodplain fell significantly. This effect was, however, short-lived. In spatial hedonic models that explicitly incorporate both linear and nonlinear temporal flood-zone effects, we show that the flood risk discount disappeared between four and nine years after the flood, depending upon the specification. (JEL Q51, Q54)