Leaving on good terms – Evaluating incentives to improve homeowner participation in voluntary buyouts

Nicholas Haley, Olesya Savchenko, Leah Palm-Forster and Craig Landry

No 360732, 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO from Agricultural and Applied Economics Association

Abstract: One of the strongest long-term strategies to address rising flooding vulnerability is voluntary buyouts, or the purchasing and removal of property located in a floodplain. The additional parcels of open space provide natural flood protection and positive amenity value for residents. However, participation in voluntary buyouts has been limited due to homeowners’ concerns about finding comparable property and high transaction costs. Using a choice experiment, we estimate preferences for different incentives in a locally implemented voluntary buyout program designed to address these concerns.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 14
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea25:360732

DOI: 10.22004/ag.econ.360732

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