Local Willingness-to-Pay Estimates for the Remediation of the Sydney Tar Ponds in Nova Scotia
Abstractune large part des coûts de restauration du site. The Sydney Tar Ponds and Coke Ovens site in Nova Scotia, Canada, is among the most toxic hazardous waste sites in North America. This study presents hedonic estimates of the willingness-to-pay for remediation of the site using housing sales data from urban Sydney. Negative impacts are estimated with a maximum likelihood spatial autoregressive model of property values. Premiums on homes farther from the site are found to be substantial, and, when aggregated into a community willingness-to-pay measure ($169.2 million), cover a large proportion of the estimated remediation costs.
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Bibliographic InfoArticle provided by University of Toronto Press in its journal Canadian Public Policy.
Volume (Year): 33 (2007)
Issue (Month): 4 (December)
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Postal: University of Toronto Press Journals Division 5201 Dufferin Street Toronto, Ontario, Canada M3H 5T8
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