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articles: Spent nuclear fuel and residential property values: the influence of proximity, visual cues and public information

Author

Listed:
  • David E. Clark

    (Department of Economics, Marquette University, P.O. Box 1881, Milwaukee, WI 53201-1881, USA)

  • Tim Allison

    (Policy and Economic Analysis Group, Decision and Information Sciences Division, Argonne National Laboratory, 9700 S. Cass Avenue, Argonne, IL 60439, USA)

Abstract

This article examines whether public knowledge of spent fuel storage at nuclear power plants, and any local adverse risk perceptions that may have occurred, affect the sale price of single-family residential properties. We present evidence from the Rancho Seco, California, plant on residential property values using an hedonic modeling framework. We include a large number of control variables, data with a high level of spatial detail and a number of public information variables in order to model property market effects within a fifteen mile radius of the plant. Our findings indicate that proximity and visual reminders of the plant have some influence on local property markets, and that there is a small media coverage effect on single-family home sale prices.

Suggested Citation

  • David E. Clark & Tim Allison, 1999. "articles: Spent nuclear fuel and residential property values: the influence of proximity, visual cues and public information," Papers in Regional Science, Springer;Regional Science Association International, vol. 78(4), pages 403-421.
    • Handle: RePEc:spr:presci:v:78:y:1999:i:4:p:403-421
    Note: Received: 6 May 1998
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    Citations

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    Cited by:

    1. John I. Carruthers & David E. Clark, 2010. "Valuing Environmental Quality: A Space‐Based Strategy," Journal of Regional Science, Wiley Blackwell, vol. 50(4), pages 801-832, October.
    2. Joshua M. Pearce, 2012. "Limitations of Nuclear Power as a Sustainable Energy Source," Sustainability, MDPI, vol. 4(6), pages 1-15, June.
    3. Yasin Sunak & Reinhard Madlener, 2017. "The impact of wind farms on property values: A locally weighted hedonic pricing model," Papers in Regional Science, Wiley Blackwell, vol. 96(2), pages 423-444, June.
    4. Sunak, Yasin & Madlener, Reinhard, 2012. "The Impact of Wind Farms on Property Values: A Geographically Weighted Hedonic Pricing Model," FCN Working Papers 3/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Mar 2013.
    5. Munro, Kirstin & Tolley, George, 2018. "Property values and tax rates near spent nuclear fuel storage," Energy Policy, Elsevier, vol. 123(C), pages 433-442.
    6. Yves Schneider & Peter Zweifel, 2013. "Spatial Effects in Willingness to Pay for Avoiding Nuclear Risks," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 149(III), pages 357-379, September.
    7. Liu, Yanan & Tang, Yugang, 2021. "Epidemic shocks and housing price responses: Evidence from China's urban residential communities," Regional Science and Urban Economics, Elsevier, vol. 89(C).
    8. David E. Clark, 2006. "Externality Effects on Residential Property Values: The Example of Noise Disamenities," Growth and Change, Wiley Blackwell, vol. 37(3), pages 460-488, September.
    9. Welsch, Heinz & Biermann, Philipp, 2016. "Measuring nuclear power plant externalities using life satisfaction data: A spatial analysis for Switzerland," Ecological Economics, Elsevier, vol. 126(C), pages 98-111.
    10. Daniel T. Winkler & Bruce L. Gordon, 2013. "The Effect of the BP Oil Spill on Volume and Selling Prices of Oceanfront Condominiums," Land Economics, University of Wisconsin Press, vol. 89(4), pages 614-631.
    11. Komarek, Timothy M. & Lupi, Frank & Kaplowitz, Michael D., 2011. "Valuing energy policy attributes for environmental management: Choice experiment evidence from a research institution," Energy Policy, Elsevier, vol. 39(9), pages 5105-5115, September.
    12. Ranjan Ram, 2011. "Self Insurance and Insurance Demand under Self-Deception," Asia-Pacific Journal of Risk and Insurance, De Gruyter, vol. 5(2), pages 1-27, July.
    13. Boes, Stefan & Nüesch, Stephan & Wüthrich, Kaspar, 2015. "Hedonic valuation of the perceived risks of nuclear power plants," Economics Letters, Elsevier, vol. 133(C), pages 109-111.

    More about this item

    Keywords

    Nuclear fuel; property values; hedonic modeling;
    All these keywords.

    JEL classification:

    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R20 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - General

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