Table 4

Results on the Attenuation of Flood Risk Discount

VariableModel ID Embedded ImageModel 2D Embedded ImageModel 3D Embedded ImageModel 4D Embedded ImageModel 5D Embedded Image
Coeff.Std. Err.Coeff.Std. Err.Coeff.Std. Err.Coeff.Std. Err.Coeff.Std. Err.
Mapped out-0.01030.0350-0.01060.0350-0.01080.0350-0.01080.0350-0.01060.0350
Year since mapped in-0.6012*0.3195-0.8021**0.3868-0.9442**0.4434-1.0038**0.4919-0.9593*0.5410
Age of house-0.0345***0.0085-0.0345***0.0085-0.0345***0.0085-0.0345***0.0085-0.0346***0.0085
Year and quarter dummiesYesYesYesYesYes
Adjusted R-squared0.88650.88650.88650.88650.8865
AIC-14,475.08-14,479.59-14,481.13-14,479.44-14,475.74
BIC-14,307.64-14,312.15-14,313.69-14,312.00-14,308.30
Samplesa33333
Number of observations14,92614,92614,92614,92614,926
Fixed effectsParcelParcelParcelParcelParcel
Number of groups6,3426,3426,3426,3426,342
Clustered errorsYesYesYesYesYes

  • ↵a 1 = Most recent valid sales; 2 = Repeat sales; 3 = Screened repeat sales. AIC, Akaike information criterion; BIC, Bayesian information criterion.

  • ↵*, **, *** Significant at the 10%, 5%, and 1% levels, respectively.