Is Pollution a Homogeneous Determinant of Value?

摘要

This study uses a cross-sectional, hedonlc pricing model to investigate the link between different types of chemical releases and prices paid by purchasers of single-family residences In Omaha, Nebraska's Douglas County. The model employs data from the 2000 Census, the U.S. Environmental Protection Agency, and the Douglas County Assessor's Office. The results indicate that aggregate toxic chemical releases adversely impact the selling price of a home. However, there is no evidence that releases of specific toxic chemicals known to be carcinogenic result In any additional downward adjustment on price. It appears that buyers do not have sufficient information or the inclination to distinguish between pollutants with differing impacts on human health and the environment.