The impacts of pollution and exposure pathways on home values: A stated preference analysis
AbstractHedonic property value methods are an attractive non-market valuation technique. In practice, however, researchers are often forced to make untested assumptions regarding the public's perceptions of the environmental commodity being studied. Stated preference methods offer an opportunity to examine how home values are affected when researchers know exactly what is being valued. A stated preference study is conducted to investigate how people value environmental quality, by measuring impacts on home values from a leaking underground storage tank (LUST). The study incorporates two experimental treatments, expressing environmental risks in terms of (i) the presence of an exposure pathway, and (ii) pollution concentrations. This mimics information provided to Maryland households whose groundwater is actually impacted by a LUST.
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Bibliographic InfoArticle provided by Elsevier in its journal Ecological Economics.
Volume (Year): 82 (2012)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/ecolecon
Home value; Underground storage tank; Groundwater; Stated Preference; Inferred valuation; Remediation benefits;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
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- Dennis Guignet & Anna Alberini, 2013. "Can Property Values Capture Changes in Environmental Health Risks? Evidence from a Stated Preference Study in Italy and the UK," Working Papers 2013.67, Fondazione Eni Enrico Mattei.
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