RT Journal Article
SR Electronic
T1 Pricing Coastal Amenities and Flood Hazards
JF Land Economics
FD University of Wisconsin Press
SP 109
OP 126
DO 10.3368/le.100.1.102022-0085R
VO 100
IS 1
A1 Chen, Zhenshan
A1 Towe, Charles A.
YR 2024
UL http://le.uwpress.org/content/100/1/109.abstract
AB Coastlines bring precious amenities to residents, but they also have significant and growing risks from storms and rising sea levels. Disentangling these amenities and risks is of ever-increasing importance to the public and policy makers. Evaluating the most tangible aspect of coastal living in New England, we present a scalable way to construct parcel-specific measures of coastal amenities. Estimates suggest that good coastal amenities, represented by unobstructed ocean views, add about 33%–69% to property prices. Coastal hazard effects are separated from the amenities: the flood zone discounts in coastal Connecticut and Massachusetts are generally low.