Research

Link to paper

Abstract: This paper examines the short-term impact of air quality on housing prices, focusing on temporary variations in air pollution. Forward-looking, rational individuals should not respond to short-term fluctuations in pollution, as price would be based on long-term air quality expectations. If housing prices are affected by temporary changes, this suggests that individuals exhibit myopic behavior. Using data from South Korea between 2015 and early 2020, I find that temporary fluctuations in air quality significantly reduce housing prices. Specifically, I find that the effects are observed primarily for visible pollutants such as particulate matter (PM10). The findings suggest that the visual impact of air pollution plays a critical role in shaping buyer behavior.

1. Cheng, C., Deck, C., & Kim, W. (2023). Collective Action and Intra-Group Conflict: An Experiment. Defence and Peace Economics, 1-16.

2. Kim, Wonjong (2020) Single-Person Households and Crime, Korean Journal of Law and Economics,17(1): 137-160 (In Korean)

3. Kim, Duol and Wonjong Kim (2019) Nulla Poena Sine Lege: A Quantitative Analysis on Scope of Crimes, Level of Punishments, and Proportionality between Punishments in Korean Laws, The Justice, 170(3) (In Korean) 

Behaviors in Homeowner Insurance Claim and Maintenance Against Storms (with Cary Deck, Amanda Ross)

The Impact of Pollution on Criminal Behavior (with Michael Price, Amanda Ross)