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Local Willingness-to-Pay Estimates for the Remediation of the Sydney Tar Ponds in Nova Scotia

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  • Ida Ferrara
  • Stephen McComb
  • Paul Missios

Abstract

une 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.

Suggested Citation

  • Ida Ferrara & Stephen McComb & Paul Missios, 2007. "Local Willingness-to-Pay Estimates for the Remediation of the Sydney Tar Ponds in Nova Scotia," Canadian Public Policy, University of Toronto Press, vol. 33(4), pages 441-458, December.
  • Handle: RePEc:cpp:issued:v:33:y:2007:i:4:p:441-458
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    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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