CHATTOPADHYAY, SUDIP ; BRADEN, JOHN B. ; PATUNRU, ARIANTO (2005) BENEFITS OF HAZARDOUS WASTE CLEANUP: NEW EVIDENCE FROM SURVEY- AND MARKET-BASED PROPERTY VALUE APPROACHES Contemporary Economic Policy, 23 (3). pp. 357-375. ISSN 10743529
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Official URL: http://doi.org/10.1093/cep/byi027
Related URL: http://dx.doi.org/10.1093/cep/byi027
Abstract
This article compares the discrete choice random utility model and the hedonic property value model in estimating the benefits of cleaning up Waukegan Harbor, a Superfund site on the Great Lakes. The study uses survey-based conjoint choice data on housing preferences and market data on housing transactions. The research finds that the benefit estimates for different levels of cleanup are quite comparable between the models. The estimates compare very well with those of some previous studies. The results of the study suggest that tax increment financing by the local government is a feasible option to fund cleanup.
| Item Type: | Article |
|---|---|
| Source: | Copyright of this article belongs to John Wiley & Sons, Inc. |
| ID Code: | 134351 |
| Deposited On: | 06 Jan 2023 05:32 |
| Last Modified: | 06 Jan 2023 05:32 |
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