A Theoretical Framework of Flood Induced Changes in Urban Land Values
flood hazard, land values, capitalization, theoretical framework
Digital Object Identifier (DOI)
By integrating literature from flood hazard research and urban economics a theoretical structure is developed to explain changes in residential land values following flood events. The negative aspects of the flood hazard are shown to be capitalized in the value of the property. It is further suggested that land values (i.e., capitalization) will vary both spatially across the floodplain and temporally depending on the frequency, severity and spatial characteristics of the flood event. Previous work in this area has not addressed the capitalization process explicitly and has not specifically examined the ability of the land market to recover. This may account for the contradictory findings in the published literature.
Citation / Publisher Attribution
JAWRA Journal of the American Water Resources Association, v. 22, issue 1, p. 67-71
Scholar Commons Citation
Tobin, Graham A. and Newton, Thomas G., "A Theoretical Framework of Flood Induced Changes in Urban Land Values" (1986). School of Geosciences Faculty and Staff Publications. 145.