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Benefits Of Hazardous Waste Cleanup: New Evidence From Survey- And Market-Based Property Value Approaches

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Author Info

  • SUDIP CHATTOPADHYAY
  • JOHN B. BRADEN
  • ARIANTO PATUNRU

Abstract

This article compares the discrete choice random utility model and the hedonic property value model in estimating the benefits of cleaning up Waukegan Harbor, a Superfund site on the Great Lakes. The study uses survey-based conjoint choice data on housing preferences and market data on housing transactions. The research finds that the benefit estimates for different levels of cleanup are quite comparable between the models. The estimates compare very well with those of some previous studies. The results of the study suggest that tax increment financing by the local government is a feasible option to fund cleanup. Copyright 2005 Western Economic Association International.

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1093/cep-byi027
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Bibliographic Info

Article provided by Western Economic Association International in its journal Contemporary Economic Policy.

Volume (Year): 23 (2005)
Issue (Month): 3 (07)
Pages: 357-375

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Handle: RePEc:bla:coecpo:v:23:y:2005:i:3:p:357-375

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Cited by:
  1. Hilary Sigman & Sarah L. Stafford, 2010. "Management of Hazardous Waste and Contaminated Land," Working Papers 104, Department of Economics, College of William and Mary.
  2. Silvia Banfi & Massimo Filippini & Andrea Horehájová, 2007. "Using a Choice Experiment to Estimate the Benefits of a Reduction of Externalities in Urban Areas with Special Focus on Electrosmog," CEPE Working paper series 07-58, CEPE Center for Energy Policy and Economics, ETH Zurich.
  3. Anna Alberini & Stefania Tonin & Margherita Turvani, 2009. "The Value of Reducing Cancer Risks at Contaminated Sites: Are More Heavily Exposed People Willing to Pay More?," Working Papers 2009.60, Fondazione Eni Enrico Mattei.
  4. Franco, Sofia & Cutter, Bowman & DeWoody, Autumn, 2010. "Do Parking Requirements Significantly Increase The Area Dedicated To Parking? A Test Of The Effect Of Parking Requirements Values In Los Angeles County," MPRA Paper 20403, University Library of Munich, Germany.
  5. Robin R. Jenkins & Elizabeth Kopits & David Simpson, 2006. "Measuring the Social Benefits of EPA Land Cleanup and Reuse Programs," NCEE Working Paper Series 200603, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Sep 2006.
  6. Kiel, Katherine A. & Williams, Michael, 2007. "The impact of Superfund sites on local property values: Are all sites the same?," Journal of Urban Economics, Elsevier, vol. 61(1), pages 170-192, January.
  7. Jette Jacobsen & John Boiesen & Bo Thorsen & Niels Strange, 2008. "What’s in a name? The use of quantitative measures versus ‘Iconised’ species when valuing biodiversity," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 39(3), pages 247-263, March.
  8. Anna Alberini & Dennis Guignet, 2010. "Preliminary Stated-Preference Research on the Impact of LUST Sites on Property Values: Focus Group Results," NCEE Working Paper Series 201009, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Aug 2010.
  9. John Braden & Xia Feng & DooHwan Won, 2011. "Waste Sites and Property Values: A Meta-Analysis," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 50(2), pages 175-201, October.
  10. Chattopadhyay, Sudip, 2009. "The random expenditure function approach to welfare in RUM: The case of hazardous waste clean-up," Resource and Energy Economics, Elsevier, vol. 31(1), pages 58-74, January.

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