Investment in adaptation is a critical strategy to reduce the damages from climate change, yet there is limited evidence about its effectiveness and costs. We exploit the activation of a sea wall to protect the city of Venice from increasingly high tides to provide new evidence on the...

This paper exploits the operation of a sea wall built to protect the city of Venice from increasingly high tides to provide evidence on the capitalization of public infrastructure investment in climate change adaptation into housing values. Properties above the sea wall activation threshold...