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Leaving on good terms – Evaluating incentives to improve homeowner participation in voluntary buyouts

Author

Listed:
  • Haley, Nicholas
  • Savchenko, Olesya
  • Palm-Forster, Leah
  • Landry, Craig

Abstract

One of the strongest long-term strategies to address rising flooding vulnerability is voluntary buyouts, or the purchasing and removal of property located in a floodplain. The additional parcels of open space provide natural flood protection and positive amenity value for residents. However, participation in voluntary buyouts has been limited due to homeowners’ concerns about finding comparable property and high transaction costs. Using a choice experiment, we estimate preferences for different incentives in a locally implemented voluntary buyout program designed to address these concerns.

Suggested Citation

  • Haley, Nicholas & Savchenko, Olesya & Palm-Forster, Leah & Landry, Craig, 2025. "Leaving on good terms – Evaluating incentives to improve homeowner participation in voluntary buyouts," 2025 AAEA & WAEA Joint Annual Meeting, July 27-29, 2025, Denver, CO 360732, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea25:360732
    DOI: 10.22004/ag.econ.360732
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    References listed on IDEAS

    as
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    6. Reza Marsooli & Ning Lin & Kerry Emanuel & Kairui Feng, 2019. "Climate change exacerbates hurricane flood hazards along US Atlantic and Gulf Coasts in spatially varying patterns," Nature Communications, Nature, vol. 10(1), pages 1-9, December.
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