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The Effects of Environmental Liability on Industrial Real Estate Development

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Author Info
Boyd, James
Harrington, Winston
Macauley, Molly K

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Abstract

The paper explores the effects of current liability law on real estate transactions involving properties with potential environmental contamination. Sources of uncertainty and their likely impact on transactions are identified. Liability-driven market distortions are likely to be due less to legal uncertainty than to problems arising from asymmetric information and imperfect detection. Copyright 1996 by Kluwer Academic Publishers

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Publisher Info
Article provided by Springer in its journal Journal of Real Estate Finance & Economics.

Volume (Year): 12 (1996)
Issue (Month): 1 (January)
Pages: 37-58
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Handle: RePEc:kap:jrefec:v:12:y:1996:i:1:p:37-58

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Web page: http://www.springerlink.com/link.asp?id=102945

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  1. Howard F. Chang & Hilary Sigman, 2005. "The Effect of Joint and Several Liability Under Superfund on Brownfields," NBER Working Papers 11667, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  2. Boyd, James, 1999. "Environmental Remediation and Economies in Transition," Discussion Papers dp-99-21, Resources For the Future. [Downloadable!]
  3. Hilary Sigman, 2009. "Environmental Liability and Redevelopment of Old Industrial Land," NBER Working Papers 15017, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  4. Anna Alberini & Alberto Longo, 2006. "The Effects of Contamination and Cleanup on Commercial and Industrial Properties: A Hedonic Pricing Model of Maryland and Baltimore City," ERSA conference papers ersa06p413, European Regional Science Association. [Downloadable!]
  5. Wernstedt, Kris & Alberini, Anna & Heberle, Lauren & Meyer, Peter, 2004. "The Brownfields Phenomenon: Much Ado about Something or the Timing of the Shrewd?," Discussion Papers dp-04-46, Resources For the Future. [Downloadable!]
  6. Anna Alberini, 2006. "Determinants and Effects on Property Values of Participation in Voluntary Cleanup Programs: The Case of Colorado," Working Papers 2006.1, Fondazione Eni Enrico Mattei. [Downloadable!]
    Other versions:
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