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Industrial Risks and Housing Prices

Author

Listed:
  • Celine Grislain-Letremy
  • Arthur Katossky

Abstract

Housing prices can decrease because of proximity to hazardous industrial plants. This effect depends on households’ perception of risk and can so be modified by events that change risk perception, such as technological risk prevention plans in France. The impact of these plans is difficult to estimate because their implementation in urban zones is very recent. However, the study of other events modifying risk perception provides partial answer. This paper studies areas in the vicinity of hazardous industrial plants near Bordeaux, Dunkirk and Rouen. Applying hedonic price method enables to estimate the effect of proximity to hazardous industrial plants on housing prices. Results suggest that these price differences are modified neither by local incidents, the AZF accident, information policies, nor by the implementation of the technological disasters insurance system. Keywords: environmental public policies, industrial risk, land use, hedonic price method. JEL classification: Q51, Q58, R52.

Suggested Citation

  • Celine Grislain-Letremy & Arthur Katossky, 2012. "Industrial Risks and Housing Prices," ERSA conference papers ersa12p79, European Regional Science Association.
    • Handle: RePEc:wiw:wiwrsa:ersa12p79
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    More about this item

    Keywords

    environmental public policies; industrial risk; land use; hedonic price method. jel classification: q51; q58; r52.;
    All these keywords.

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations

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