L’information préventive améliore-t-elle la perception des risques? Impact de l’Information Acquéreur Locataire sur le prix des logements
Amélie Mauroux ()
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Amélie Mauroux: CGDD; CREST-LEI; Université Paris Dauphine
No 2015.17, Working Papers from FAERE - French Association of Environmental and Resource Economists
This article evaluates the impact of a seller’s disclosure, the ”Information Acquéreur Locataire” (IAL), on the housing prices and natural risk perception in at-risk areas. The date of implementation of the IAL, June the 1st 2006, as an exogenous shock on the buyers’ information on risk exposure of the housing units. A difference-in-differences hedonic price model is estimated on an unique database merging notary data on individual transactions in 2006 and the maps of the at-risk regulated areas. The results suggest that the implementation of the IAL increased the share of informed buyers: every else hold equal, in towns under a PPRi the price of some housing units under IAL decreased compared to the price of similar units located outside the at-risk regulated perimeters. It is the case for apartments on the first floor or in towns hit by a natural disaster the year before the sale. The implementation of the IAL also decreased the probability that, after June 2006, at-risk individual houses were sold to buyers living in another town and thus less likely to be informed on the local natural risk exposure.
Keywords: modèle de prix hédoniques; différence de différences; perception des risques; évaluation des politiques publiques; économie de l’environnement. (search for similar items in EconPapers)
JEL-codes: Q58 Q54 R21 (search for similar items in EconPapers)
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http://faere.fr/pub/WorkingPapers/Mauroux_FAERE_WP2015.17.pdf First version, 2015 (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:fae:wpaper:2015.17
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