Disaster on the Horizon: The Price Effect of Sea Level Rise

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For the week of 25 March 2019

Greetings OpenChannels Community Members,

Journal of Financial Economics has published, Disaster on the Horizon: The Price Effect of Sea Level Rise, "Homes exposed to sea level rise (SLR) sell for approximately 7% less than observably equivalent unexposed properties equidistant from the beach. This discount has grown over time and is driven by sophisticated buyers and communities worried about global warming. Consistent with causal identification of long-horizon SLR costs, we find no relation between SLR exposure and rental rates and a 4% discount among properties not projected to be flooded for almost a century. Our findings contribute to the literature on the pricing of long-run risky cash flows and provide insights for optimal climate change policy."

As always, if we've missed anything, please feel free to let us know. You may simply reply to this message, or you may email Allie directly at: abrown [at] openchannels.org.

You can read everything (not just the free stuff) we have found this week at https://www.openchannels.org/literature-update/2019-03-27. Additionally, you can browse literature by the week we've added it at https://www.openchannels.org/literature-by-week.

Thank you for being part of the OpenChannels Community,
– Allie Brown, Raye Evrard, and the rest of the OpenChannels Team

Adaptive Management

OA: Reiblich, J., Hartge, E., Wedding, L. M., Killian, S. & Verutes, G. M. Bridging climate science, law, and policy to advance coastal adaptation planning. Marine Policy 104, 125 - 134 (2019).

Biodiversity

OA: Daam, M. A., Teixeira, H., Lillebø, A. I. & Nogueira, A. J. A. Establishing causal links between aquatic biodiversity and ecosystem functioning: Status and research needs. Science of The Total Environment 656, 1145 - 1156 (2019).

Conservation Targets & Planning

OA: Barr, Y. & Abelson, A. Feeding – Cleaning Trade-Off: Manta Ray “Decision-Making” as a Conservation Tool. Frontiers in Marine Science 6, (2019).

Corals

OA: Sully, S., Burkepile, D. E., Donovan, M. K., Hodgson, G. & van Woesik, R. A global analysis of coral bleaching over the past two decades. Nature Communications10, (2019).

OA: Savage, C. Seabird nutrients are assimilated by corals and enhance coral growth rates. Scientific Reports 9, (2019).

Deep-sea ecosystems and hydrothermal vents

OA: Zhang, G. et al. Giant discoveries of oil and gas fields in global deepwaters in the past 40 years and the prospect of exploration. Journal of Natural Gas Geoscience (In Press). doi:10.1016/j.jnggs.2019.03.002

Distributions of Species

OA: Druon, J. - N. et al. Satellite-based indicator of zooplankton distribution for global monitoring. Scientific Reports 9, (2019).

Ecosystem Services and Uses

OA: Aanesen, M. & Armstrong, C. W. Trading Off Co-produced Marine Ecosystem Services: Natural Resource Industries Versus Other Use and Non-use Ecosystem Service Values. Frontiers in Marine Science 6, (2019).

Fisheries and Fisheries Management

Preprint: Steiner, E., Russell, S., Vizek, A. & Warlick, A. Crew in the West Coast Groundfish Catch Share Program: Changes in Compensation and Job Satisfaction. Coastal Management 46, 656 - 676 (2018).

Preprint: Errend, M. N., Pfeiffer, L., Steiner, E., Guldin, M. & Warlick, A. Economic Outcomes for Harvesters under the West Coast Groundfish Trawl Catch Share Program: Have Goals and Objectives Been Met?. Coastal Management 46, 564 - 586 (2018).

Marine/Maritime Spatial Planning (MSP)

OA: Jean, S. et al. Serious Games as Planning Support Systems: Learning from Playing Maritime Spatial Planning Challenge 2050. Water 10, 1786 (2018).

Monitoring

OA: Druon, J. - N. et al. Satellite-based indicator of zooplankton distribution for global monitoring. Scientific Reports 9, (2019).

Resilience

OA: Clark, M. R., Bowden, D. A., Rowden, A. A. & Stewart, R. Little Evidence of Benthic Community Resilience to Bottom Trawling on Seamounts After 15 YearsData_Sheet_1.docx. Frontiers in Marine Science 6, (2019).

Sea-level Rise, Coastal Flooding, and Storm Events

Preprint: Bernstein, A., Gustafson, M. T. & Lewis, R. Disaster on the Horizon: The Price Effect of Sea Level Rise. Journal of Financial Economics (In Press). doi:10.1016/j.jfineco.2019.03.013

Social-Ecological Systems and Human Wellbeing

Preprint: Young, N. et al. Limitations to growth: Social-ecological challenges to aquaculture development in five wealthy nations. Marine Policy 104, 216 - 224 (2019).

Tradeoffs

OA: Aanesen, M. & Armstrong, C. W. Trading Off Co-produced Marine Ecosystem Services: Natural Resource Industries Versus Other Use and Non-use Ecosystem Service Values. Frontiers in Marine Science 6, (2019).