Information regulation: Do the victims of externalities pay attention?
AbstractIndividuals living in metropolitan areas are exposed to a large number of industrial risks. Information regulation is a new tool to manage such risks. We ask if large-scale information initiatives directed at the general public can affect individual risk perceptions. The answer is affirmative. Using the publication of the Toxics Release Inventory as a case study, we find a decline in predicted property values when new information on pollution became available, indicating that homebuyers adjusted their risk perceptions upward. The response, however, is limited to sources of toxic emissions that are located at a moderate distance from the properties in our sample. Copyright Springer Science+Business Media, LLC 2006
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Bibliographic InfoArticle provided by Springer in its journal Journal of Regulatory Economics.
Volume (Year): 30 (2006)
Issue (Month): 2 (08)
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Web page: http://www.springerlink.com/link.asp?id=100298
Information regulation; Pollution prevention; Toxics Release Inventor; H23; K32; L51; I18;
Find related papers by JEL classification:
- H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
- K32 - Law and Economics - - Other Substantive Areas of Law - - - Environmental, Health, and Safety Law
- L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
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