Conference Agenda
Overview and details of the sessions of this conference. Please select a date or location to show only sessions at that day or location. Please select a single session for detailed view (with abstracts and downloads if available).
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Daily Overview |
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Preferences and welfare Location: Auditorium K Session Chair: Yingdan Mei, Renmin University of China | |
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Downgraded protected areas decrease nearby housing values in the United States 1: Renmin University of China; 2: Huazhong Agricultural University; 3: University of Rhode Island; 4: Beihang University This study quantitatively estimates the impacts of Protected Area Downgrading (PAD) events on housing values across the U.S. We leverage changes in housing values of more than 23 million of properties close to PAs across the United States to quantify the external economic impacts of 1,246 PAD events occurred between 1905 and 2018. A triple difference analysis shows that PAD events signiffcantly decrease housing values within up to 2.5 km by about 9%, which are robust across different speciffcations. The negative impacts on housing values are mainly in areas where PAD were established due to forestry and subsistence reasons. On the contrary, PAD events generate a price premium on nearby houses in areas with infrastructure development. The loss of the reduced PAs are estimated by about $203.563 billion across the United States. Our results contribute to a better understanding of the economic consequences of shifts in land protection strategies and promote a holistic assessment in decision-making processes pertaining to protected areas. | |