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The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach

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Abstract

A large detailed data set is used to examine the relationship between housing prices and several environmental quality indicators representing air, water, and land influences. Our primary concern is the influence of waste site proximity on housing prices. The results indicate that individuals consider waste site proximity in their housing purchases, yielding a measurable price gradient with two important characteristics. First, the price gradient levels off with distance from the waste site. Second, distance from hazardous waste sites is more valuable than distance from nonhazardous waste sites. These results are relatively robust, remaining stable as estimated functional form and sample size varies.

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  • Mark Thayer & Heidi Albers & Morteza Rahmatian, 1992. "The Benefits of Reducing Exposure to Waste Disposal Sites: A Hedonic Housing Value Approach," Journal of Real Estate Research, American Real Estate Society, vol. 7(3), pages 265-282.
    • Handle: RePEc:jre:issued:v:7:n:3:1992:p:265-282
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    1. Atkinson, Scott E & Crocker, Thomas D, 1987. "A Bayesian Approach to Assessing the Robustness of Hedonic Property," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 2(1), pages 27-45, January.
    2. Bartik, Timothy J., 1986. "Neighborhood revitalization's effects on tenants and the benefit-cost analysis of government neighborhood programs," Journal of Urban Economics, Elsevier, vol. 19(2), pages 234-248, March.
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    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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