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DOI | 10.1016/j.jeem.2017.12.003 |
Contamination and incomplete information: Bounding implicit prices using high-profile leaks | |
Guignet, Dennis1; Jenkins, Robin1; Ranson, Matthew2; Walsh, Patrick J.3 | |
发表日期 | 2018-03-01 |
ISSN | 0095-0696 |
卷号 | 88页码:259-282 |
英文摘要 | Incomplete information can lead households to underprice environmental disamenities in the housing market. To bound the true implicit prices, researchers sometimes study high profile cases involving significant media and community attention. However, prior research finds that high-profile cases may lead to "stigma" effects that can confound interpretation of the results. This study compares these opposing effects at sixteen of the highest profile underground storage tank releases across the United States over the last thirty years. Using covariate matching and difference-in-differences hedonic regressions, we estimate the change in housing values around each site. We then conduct a cross-site meta-analysis to estimate the average treatment effects. We find an average housing price depreciation of 2-6% upon discovery of a release, which is an upper bound on the implicit price of contamination at more typical sites. Following cleanup, we find a housing price appreciation of a similar magnitude, suggesting that even in high-profile cases, surrounding neighborhoods do not experience persistent stigma. (C) 2018 Published by Elsevier Inc. |
英文关键词 | Contaminated site;Groundwater;Hedonic;Meta-analysis;Property value;Underground storage tank;UST |
语种 | 英语 |
WOS记录号 | WOS:000430766600012 |
来源期刊 | JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT |
来源机构 | 美国环保署 |
文献类型 | 期刊论文 |
条目标识符 | http://gcip.llas.ac.cn/handle/2XKMVOVA/59344 |
作者单位 | 1.US EPA, Natl Ctr Environm Econ, Mail Code 1809T,1200 Penn Ave NW, Washington, DC 20460 USA; 2.ABT Associates Inc, Cambridge, MA 02138 USA; 3.Landcare Res, Lincoln, New Zealand |
推荐引用方式 GB/T 7714 | Guignet, Dennis,Jenkins, Robin,Ranson, Matthew,et al. Contamination and incomplete information: Bounding implicit prices using high-profile leaks[J]. 美国环保署,2018,88:259-282. |
APA | Guignet, Dennis,Jenkins, Robin,Ranson, Matthew,&Walsh, Patrick J..(2018).Contamination and incomplete information: Bounding implicit prices using high-profile leaks.JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT,88,259-282. |
MLA | Guignet, Dennis,et al."Contamination and incomplete information: Bounding implicit prices using high-profile leaks".JOURNAL OF ENVIRONMENTAL ECONOMICS AND MANAGEMENT 88(2018):259-282. |
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