| Budget Amount *help |
¥3,640,000 (Direct Cost: ¥2,800,000、Indirect Cost: ¥840,000)
Fiscal Year 2018: ¥1,040,000 (Direct Cost: ¥800,000、Indirect Cost: ¥240,000)
Fiscal Year 2017: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2016: ¥1,430,000 (Direct Cost: ¥1,100,000、Indirect Cost: ¥330,000)
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| Outline of Final Research Achievements |
The present study analyzes the impact of short-run and long-run earthquake risk on Japanese property prices considering property characteristics, ward attractiveness information, macroeconomic variables. The results are as follows: (1) long-run earthquake probabilities negatively impact property prices and increasingly so at higher risk levels. (2) distorted short-run associated with the probability weighting function and long-run earthquake probabilities have a significantly negative impact on property prices.
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