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| The Benefits of Reducing Exposure to
Waste Disposal Sites: A Hedonic Housing Value Approach Author: Mark Thayer, Heidi Albers, and Morteza Rahmatian Start Page: 265 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. |
