Valuing nuclear energy risk: Evidence from the impact of the Fukushima crisis on U.S. house prices
Shinsuke Tanaka and
Jeffrey Zabel ()
Journal of Environmental Economics and Management, 2018, vol. 88, issue C, 411-426
Behavioral economics suggests that individuals overweight recent unexpected and/or rare events when updating beliefs. This study investigates the effect of such an event, the Fukushima nuclear crisis in 2011, on the learning process of a local environmental risk by evaluating how perceptions of the risk of a nuclear accident are capitalized into house prices near nuclear power plants (NPPs) in the U.S. Our results provide new evidence on the dynamics of the effect – spatially, the impact was concentrated in a 4-km radius around NPPs, and temporally, it peaked a half year later and dissipated one year after the crisis.
Keywords: Learning; Information processing; Nuclear energy risk; Hedonic price; Model; Fukushima (search for similar items in EconPapers)
JEL-codes: D81 D83 R31 Q54 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
Full text for ScienceDirect subscribers only
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:eee:jeeman:v:88:y:2018:i:c:p:411-426
Access Statistics for this article
Journal of Environmental Economics and Management is currently edited by M.A. Cole, A. Lange, D.J. Phaneuf, D. Popp, M.J. Roberts, M.D. Smith, C. Timmins, Q. Weninger and A.J. Yates
More articles in Journal of Environmental Economics and Management from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().