Calendrier du 08 janvier 2018
Régulation et Environnement
Du 08/01/2018 de 12:00 à 14:00
Salle R1-13, Campus Jourdan, 48 boulevard Jourdan, 75014 Paris
COULOMB Renaud (University of Melbourne)
Rare Events and Risk Perception: Evidence from the Fukushima Accident
écrit avec Yanos Zylberberg
We study changes in nuclear-risk perception following the Fukushima nuclear accident of March 2011. Using an exhaustive registry of individual housing transactions in England and Wales between 2007 and 2014, we implement a difference-in-difference strategy and compare housing prices in at-risk areas to areas further away from nuclear sites before and after the Fukushima incident. We find a persistent price decrease of about 3.5% in response to the accident for properties in the neighbourhood of nuclear plants. As the UK immediately extended the life duration of most nuclear plants, the price decrease is primarily driven by a change in nuclear-risk perception. However, we find large heterogeneity among at-risk neighbourhoods, and we explore how such heterogeneity can relate to existing productive and consumptive amenities.