The Marginal Cost of Mortality Risk Reduction: Evidence from Housing Markets

We provide the first evidence that spatial variation in all-cause mortality risk is capitalized into US housing prices. Using a hedonic framework, we recover the annual implicit cost of a 0.1 percentage-point reduction in mortality risk among older Americans and find that this figure is both本研究首次提供证据表明，全因死亡风险的空间差异已被资本化至美国住房价格当中。本研究借助特征价格框架（hedonic framework），估算出美国老年群体每降低0.1个百分点死亡风险所对应的年度隐性成本，研究发现该数值兼具