Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/330809 
Year of Publication: 
2025
Citation: 
[Journal:] Environmental and Resource Economics [ISSN:] 1573-1502 [Volume:] 88 [Issue:] 9 [Publisher:] Springer Netherlands [Place:] Dordrecht [Year:] 2025 [Pages:] 2331-2356
Publisher: 
Springer Netherlands, Dordrecht
Abstract: 
Do individuals learn from salient river floods and update their risk perceptions accordingly? We exploit the Western European flood in 2021 to estimate changes in property values across German flood risk regions. Flood-prone areas in proximity to the flood or with higher climate change beliefs experience housing price declines, while we observe no statistically significant effects in other flood risk zones. Our results imply that flood risk discounts in the housing market will not adjust uniformly, which may result in suboptimal capital allocation in areas at risk of future flooding.
Subjects: 
Flood risk
House prices
Risk updating
JEL: 
Q54
Q51
D81
R31
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
Document Version: 
Published Version

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