Estimating the Economic Benefits of Cleaning Up Superfund Sites: The Case of Woburn, Massachusetts
Superfund was established in 1980 to deal with closed and abandoned hazardous waste sites. Given the large amounts of money being spent on cleanups of Superfund sites, one might hope that the money is being spent in a cost-effective manner, but there is little evidence that the estimated benefits from cleanup affect the cleanup decision. We apply the hedonic method to house prices to estimate the individual willingness to pay (WTP) to clean up a Superfund site. We then show how the individual WTP can be used to calculate the total benefits from cleaning up the site so that a cost-benefit analysis of Superfund cleanup can be undertaken. We apply our technique to the two Superfund sites in Woburn, Massachusetts. We find that the benefits from cleaning up these sites are in the range of $72 million to $122 million (1992 dollars). It is likely that these benefits are greater than the present value of the estimated costs of cleaning up these sites. Thus it appears that the cleanup of the Woburn Superfund sites results in positive net benefits to society. Copyright 2001 by Kluwer Academic Publishers
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 22 (2001)
Issue (Month): 2-3 (March-May)
|Contact details of provider:|| Web page: http://www.springer.com|
|Order Information:||Web: http://www.springer.com/economics/regional+science/journal/11146/PS2|
When requesting a correction, please mention this item's handle: RePEc:kap:jrefec:v:22:y:2001:i:2-3:p:163-84. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla)or (Rebekah McClure)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.