The Impact of Natural Hazards on Housing Values: The Loma Prieta Earthquake
利用旧金山湾区的大样本数据，分析洛马普列塔地震对房价的影响，发现地震导致区域房价整体下降，且购房者会考虑其他地震风险因素，形成可测量的价格梯度。
A large, detailed data set is used to examine the effect of the Loma Prieta (World Series) earthquake on housing prices in the San Francisco Bay area. This relationship is examined while controlling for potential confounding variables, such as location‐specific risk and the timing of the earthquake. The results indicate that the Loma Prieta earthquake caused an area wide reduction in property values. In addition, it seems that individuals considered other measures of earthquake risk in their housing purchases, yielding a measurable price gradient. These results are relatively robust, remaining stable across estimated functional forms and independent variable sets.