Estimation of Perceived Risk and Its Effect on Property Values
研究估计了一个动态离散时间模型，分析危险废物场地周围感知风险的演变及其对房产价值的影响，发现媒体报道和高先验风险感知会增加当前感知风险，进而降低房产价值。
<i>A dynamic, discrete-time model is estimated in order to analyze the evolution of perceived risk around a hazardous waste site and its effect on property values. Residential property values are modeled as a function of housing attributes and perceived risk from a nearby hazardous waste site using an hedonic-price framework. Perceived risk enters the model as a state equation, which includes a media coverage variable. Results indicate that media coverage and high prior risk perception increase current perceived risk. Increased perceived risk surrounding the hazardous waste site, in turn, lowers property values.</i>