000157316 001__ 157316
000157316 005__ 20180122230413.0
000157316 037__ $$a1778-2016-141744
000157316 041__ $$aen_US
000157316 084__ $$aQ51
000157316 084__ $$aQ54
000157316 084__ $$aR31
000157316 245__ $$aLiving with Wildfire: The Impact of Historic Fires on Property Values in Kelowna, BC
000157316 260__ $$c2013-09
000157316 269__ $$a2013-09
000157316 270__ $$mzach_xu@hotmail.com$$pXu,   Zhen
000157316 270__ $$mkooten@uvic.ca$$pvan Kooten,   G. Cornelis
000157316 300__ $$a31
000157316 336__ $$aWorking or Discussion Paper
000157316 490__ $$aREPA Working Paper
000157316 490__ $$a2013-05
000157316 520__ $$aWildfires in British Columbia result not only in large direct damages, but also significant indirect losses associated with lost amenity values and the risk to life and property. The indirect values can potentially be measured by changes in property values. In this study, we assume that the threat of wildfire affects property values by shifting homebuyers’ willingness-to-pay. Using ten years of data from the City of Kelowna, we develop a hedonic pricing model that employs spatial autoregression to determine the marginal effects that wildfire occurrence, average fire size, and the location have on a residential property’s aggregate sales value ($) and on its per unit price ($/m2). Results indicate that historical wildfire occurrence has a statistically significant impact on property values, but that fire size has a more significant impact than frequency. It also appears that homebuyers discount the impact of fire on their purchase if large fires occurred nearby – as if fires do not strike twice in the same region. Finally, the evidence suggests that amenities available in the wildland urban interface add more value to residential properties than that is lost as a result of wildfire risk.
000157316 542__ $$fLicense granted by Linda Voss (repa@uvic.ca) on 2013-09-25T21:02:34Z (GMT):

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000157316 650__ $$aEnvironmental Economics and Policy
000157316 650__ $$aLand Economics/Use
000157316 650__ $$aResource /Energy Economics and Policy
000157316 6531_ $$aWildfire
000157316 6531_ $$aProperty Value
000157316 6531_ $$aHedonic Pricing Method
000157316 6531_ $$aSpatial Autocorrelation
000157316 700__ $$aXu, Zhen
000157316 700__ $$avan Kooten, G. Cornelis
000157316 8564_ $$s687106$$uhttp://ageconsearch.umn.edu/record/157316/files/WorkingPaper2013-05.pdf
000157316 887__ $$ahttp://purl.umn.edu/157316
000157316 909CO $$ooai:ageconsearch.umn.edu:157316$$pGLOBAL_SET
000157316 912__ $$nSubmitted by Linda Voss (repa@uvic.ca) on 2013-09-25T21:13:33Z
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  Previous issue date: 2013-09
000157316 982__ $$gUniversity of Victoria>Resource Economics and Policy Analysis Research Group>Working Papers
000157316 980__ $$a1778