내 논문을 토대로 해서 박사과정을 시작한 사람이 있다한다. 그래서 나 프로젝트할 때 나에게 기초 핵심 데이터인 홍수 데이터를 준 우리 청 사람한테 듣기로 내 지도교수가 데이터 처리 협약을 맺어서 보다 구체적인 데이터를 받아갔다고 한다. 석사 논문이 그 자체로 끝나지 않고 누군가의 연구를 위해 쓰인다는 건 기쁜 일이다. 혹여나 그밖에 누군가에게 조금이나마 도움이 될 까 싶어 여기에 공개한다.

제목: Economic Assessment of Flooding in Denmark – Inference of the non-material cost of flooding due to storm surge on housing prices using the hedonic pricing method based on a spatial difference-in-differences framework

ABSTRACT

The purpose of this study is to estimate the willingness to pay to avoid flooding after a storm surge in the coastal area. I conducted a first stage hedonic house prices study using a difference-in-differences approach. The analysis covers single-family houses located within the 3-kilometre buffer strip zone along the coastlines in 6 municipalities in Zealand, Denmark. More than 12,000 house sales transactions are included for the study during the period between 2007 and 2016. I used a historic storm, Bodil, which harshly hit Denmark in 2013, as a treatment for the setting of the difference-in-differences approach. Structural variables and environmental variables entered the estimation as control variables, and spatial and temporal autocorrelations were accounted for by spatial fixed effects and year dummies.

I found that the value of the houses flooded in 2013 is 19.4% lower than the unflooded houses, which is equivalent to DKK 115,219,540 for the flooded houses transacted during the study period. Moreover, the applied results of all houses in the study area based on the predicted sales prices show that the total economic value is DKK 528,705,356. This difference was observed even though the material damage costs were reimbursed from the Danish Storm Council when a storm surge floods the houses. Flooded houses and unflooded houses did not show any systematic differences in their price development before the treatment. These results could be evidence that there is non-material cost of flooding reflected in the house values.