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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).

Please note that all times are shown in the time zone of the conference. The current conference time is: 24th Aug 2026, 01:45:24am WEST

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Daily Overview

Session

Egg-Timer: Environmental Risks and Property Markets
Location: D-110
Session Chair: Elizabeth Anderson, University of Wisconsin - Madison

Presentation 3

Flood Risk Capitalization in Coastal Property Markets: Evidence from Macau

Junyi Hua¹, H. Allen Klaiber², Zhongming Cao¹, Siqian Zhu¹

1: City University of Macau, Macau S.A.R. (China); 2: The Ohio State University

This study develops a micro-level hedonic pricing model to assess how fine-scale measures of varying flood hazard levels affect property values in a compact coastal city prone to flooding,g such as Macau. Integrating high-resolution inundation depth maps and digitized Geographic Information System (GIS) datasets, we construct a comprehensive micro-level panel of 12,464 repeated property transactions spanning 2006-2024. Results show a heterogeneous and nonlinear pattern of the negative impacts of flood hazard levels on property market value, ranging from -13.2% to -3.9%. We employ multiple econometric approaches, including highly disaggregated lot-by-year fixed effects, to address endogeneity concerns inherent in flood risk valuation. Our findings highlight the need for more detailed flood hazard information in alleviating endogeneity issues and recovering the heterogeneity patterns, offering new insights into how housing markets respond to varying flood risk. These results provide actionable guidance for policymakers seeking to understand distributional impacts, target policy interventions, and enhance climate resilience in the face of continued urban expansion under climate change.