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Essays on Environmental and Natural ...

Winton, Annaliese R.,

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Essays on Environmental and Natural Resource Economics /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Essays on Environmental and Natural Resource Economics // Annaliese R Winton.
作者:	Winton, Annaliese R.,
面頁冊數:	1 electronic resource (138 pages)
附註:	Source: Dissertations Abstracts International, Volume: 86-03, Section: A.
Contained By:	Dissertations Abstracts International86-03A.
標題:	Tidal waves. -
電子資源:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=31357104
ISBN:	9798384222491

Essays on Environmental and Natural Resource Economics /
Winton, Annaliese R.,

Essays on Environmental and Natural Resource Economics /Annaliese R Winton. - 1 electronic resource (138 pages)

Source: Dissertations Abstracts International, Volume: 86-03, Section: A.

This dissertation explores how markets and producers respond to environmental risks that are becoming more severe due to climate change. It is comprised of two essays that empirically quantify the economic impacts of two water-related risks: storm surge flooding and groundwater depletion, which, respectively, can substantially affect coastal communities and agricultural production.In the first chapter, I estimate the price differentials associated with single-family homes in hurricane evacuation zones in Miami-Dade County, Florida, using two near-miss hurricanes as a source of exogenous information. First, I develop a comprehensive data set of housing, neighborhood, and risk characteristics using geographic information system (GIS) software to merge spatial and administrative data. Unlike other counties, hurricane evacuation zones in Miami-Dade County extend significantly inland due to the county's widespread low elevation. Leveraging this unusual amount of non-coastal variation among hurricane evacuation zones, I estimate a hedonic property model within a difference-indifferences framework to investigate what effect, if any, two near-miss hurricanes had on property prices inside hurricane evacuation zones. Results show that home prices in hurricane evacuation zones declined by 2.9% to 13% after the first near-miss and further declined by 3.4% to 8.9% following the second near-miss hurricane of a higher intensity. As expected, these price reductions are largest for homes in the highest-risk evacuation zone.This study is one of the first to show that markets internalize the risks associated with locating in a hurricane evacuation zone and provides new evidence that near-miss events can provide risk information that is internalized into market prices. Understanding ii if and to what extent risk is priced into property markets is valuable, as housing markets are uniquely poised to facilitate adaptation in the sense that they both incorporate and convey new risk information. The capitalization of risks and new risk information can help to relocate future development away from risky areas and into safer areas. For a homeowner, these price changes can incentivize them to purchase disaster insurance or take other measures to protect their property from future damages.The second chapter is the result of a joint project with co-authors R. Aaron Hrozencik and Taro Mieno. In this paper, we estimate the impacts of groundwater depletion as captured through declining well capacity, also referred to as well yield. Our study area is one of the most agriculturally productive regions of Colorado, the Republican River Basin, which largely overlies the rapidly depleting High Plains aquifer. Using a unique data set, we can incorporate both cross-sectional and temporal variation in well yields in our empirical models, enabling us to provide the first empirically-derived, causal estimates of the impact of well yield on irrigation behavior. Using a two-way fixed effects model, we examine the impact of well yield on total water use, which we then decompose into extensive (irrigated acreage) and intensive (water use per acre) margin adjustments. Our results provide evidence that declining well yields reduce total water use and show that producers are responding to declining groundwater stocks along both the intensive and extensive margins.The common pool characteristics of aquifers lead to inefficiently high rates of groundwater extraction.

English

ISBN: 9798384222491Subjects--Topical Terms:

3685270
Tidal waves.

Essays on Environmental and Natural Resource Economics /
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502 $b Ph.D. $c Clemson University $d 2024.
520 $a This dissertation explores how markets and producers respond to environmental risks that are becoming more severe due to climate change. It is comprised of two essays that empirically quantify the economic impacts of two water-related risks: storm surge flooding and groundwater depletion, which, respectively, can substantially affect coastal communities and agricultural production.In the first chapter, I estimate the price differentials associated with single-family homes in hurricane evacuation zones in Miami-Dade County, Florida, using two near-miss hurricanes as a source of exogenous information. First, I develop a comprehensive data set of housing, neighborhood, and risk characteristics using geographic information system (GIS) software to merge spatial and administrative data. Unlike other counties, hurricane evacuation zones in Miami-Dade County extend significantly inland due to the county's widespread low elevation. Leveraging this unusual amount of non-coastal variation among hurricane evacuation zones, I estimate a hedonic property model within a difference-indifferences framework to investigate what effect, if any, two near-miss hurricanes had on property prices inside hurricane evacuation zones. Results show that home prices in hurricane evacuation zones declined by 2.9% to 13% after the first near-miss and further declined by 3.4% to 8.9% following the second near-miss hurricane of a higher intensity. As expected, these price reductions are largest for homes in the highest-risk evacuation zone.This study is one of the first to show that markets internalize the risks associated with locating in a hurricane evacuation zone and provides new evidence that near-miss events can provide risk information that is internalized into market prices. Understanding ii if and to what extent risk is priced into property markets is valuable, as housing markets are uniquely poised to facilitate adaptation in the sense that they both incorporate and convey new risk information. The capitalization of risks and new risk information can help to relocate future development away from risky areas and into safer areas. For a homeowner, these price changes can incentivize them to purchase disaster insurance or take other measures to protect their property from future damages.The second chapter is the result of a joint project with co-authors R. Aaron Hrozencik and Taro Mieno. In this paper, we estimate the impacts of groundwater depletion as captured through declining well capacity, also referred to as well yield. Our study area is one of the most agriculturally productive regions of Colorado, the Republican River Basin, which largely overlies the rapidly depleting High Plains aquifer. Using a unique data set, we can incorporate both cross-sectional and temporal variation in well yields in our empirical models, enabling us to provide the first empirically-derived, causal estimates of the impact of well yield on irrigation behavior. Using a two-way fixed effects model, we examine the impact of well yield on total water use, which we then decompose into extensive (irrigated acreage) and intensive (water use per acre) margin adjustments. Our results provide evidence that declining well yields reduce total water use and show that producers are responding to declining groundwater stocks along both the intensive and extensive margins.The common pool characteristics of aquifers lead to inefficiently high rates of groundwater extraction.
546 $a English
590 $a School code: 0050
650 4 $a Tidal waves. $3 3685270
650 4 $a Hurricanes. $3 551051
650 4 $a Emergency preparedness. $3 3544045
650 4 $a Single family. $3 3681522
650 4 $a Homeowners. $3 3564347
650 4 $a Cyclones. $3 1567039
650 4 $a Water. $3 516619
650 4 $a Earthquakes. $3 535233
650 4 $a Storm damage. $3 3685264
650 4 $a Climate change. $2 bicssc $3 2079509
650 4 $a Coasts. $3 545629
650 4 $a Meteorology. $3 542822
650 4 $a Physical oceanography. $3 3168433
650 4 $a Public administration. $3 531287
690 $a 0404
690 $a 0501
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710 2 $a Clemson University. $e degree granting institution. $3 3765937
720 1 $a Baier, Scott L. $e degree supervisor.
720 1 $a Espey, Molly $e degree supervisor.
773 0 $t Dissertations Abstracts International $g 86-03A.
790 $a 0050
791 $a Ph.D.
792 $a 2024
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