The role of liability, regulation and economic incentives in brownfield remediation and redevelopment: evidence from surveys of developers

摘要

We examine market-based incentives intended to promote the environmental remediation and reuse of brownfields, such as reductions in regulatory burden, relief from liability for future cleanups and subsidies. We survey real estate developers using conjoint choice questions to assess their responses to these incentives.\udConditional logit models indicate that developers find contaminated sites less attractive, and that they value liability relief. Moreover, developers with prior contaminated site experience are very responsive to government subsidies, whereas inexperienced developers are more responsive to liability and regulatory relief. These results suggest that market-based incentives and regulatory relief can influence land use.