研究者情報 | 神奈川大学

ナカニシ　ハヤト Nakanishi Hayato 中西　勇人所属神奈川大学経済学部経済学科/現代ビジネス学科職種助教
言語種別	英語
発行・発表の年月	2017/05
形態種別	その他論文
査読	査読あり
標題	How the change of risk announcement on catastrophic disaster affects property prices?
執筆形態	単著
掲載誌名	The Economics of the Global Environment: Catastrophic Risks in Theory and Policy (Book series: Studies in Economic Theory)
掲載区分	国外
出版社・発行元	Springer
巻・号・頁	27
概要	In this article, we present evidence of the benefits of expected utility that is sensitive to rare events. Specifically, we estimate the treatment effect of reports on rare catastrophic tsunamis by using a land price hedonic approach. To identify this effect, we employed a difference in differences (DD) design. Ordinal expected utility predicts no effect since the probability of catastrophic events is sufficiently small to be ignored. However, the estimation result reveals a significant effect. This implies that ordinal expected utility derived from objective risk distribution may be inappropriate for the economic prediction of rare catastrophic events.
DOI	https://doi.org/10.1007/978-3-319-31943-8_25
ISBN	978-3-319-31943-8