2021 Fiscal Year Annual Research Report
Modeling Linkages Between Land Development And Water Quality in Freshwater Lakes
| Project/Area Number |
20K22091
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| Research Institution | Kobe University |
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Principal Investigator |
Wolf David 神戸大学, 経済学研究科, 講師 (60878271)
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| Project Period (FY) |
2020-09-11 – 2022-03-31
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| Keywords | Hedonic / Housing Prices / Apartment Rental Values / Flood Risk / Water Quality |
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| Outline of Annual Research Achievements |
I apply a novel methodology to measure the welfare effects from a non-marginal change in water quality. Within my application, I find traditional hedonic methods undercount the benefits of water quality by at least 22% or $1500 per household. My research highlights the importance of recovering demand curves for environmental goods and can be employed to value other amenities including air quality, access to public transportation, and open space.
In subsequent research, I examine how downstream rental prices in Fukuoka, Japan responded to the completion of the Gokayama Dam. I find apartment prices rose by 1.8% if they were protected by dam. This premium is only observed after residents updated their perceptions of flood risk in 2018 when widespread flooding occurred across western Japan.
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Research Products
(7 results)
