Something in the Water? Testing for Groundwater Quality Information in the Housing Market
Mclaughlin, PA
| HERO ID | 2128202 |
|---|---|
| In Press | No |
| Year | 2011 |
| Title | Something in the Water? Testing for Groundwater Quality Information in the Housing Market |
| Authors | Mclaughlin, PA |
| Journal | Journal of Agricultural and Resource Economics |
| Volume | 36 |
| Issue | 2 |
| Page Numbers | 375-394 |
| Abstract | I test the level of information regarding possible groundwater contamination in the residential real estate market in Washington County, Minnesota. An approximately seven square-mile trichloroethylene plume has affected hundreds of households' water supplies since at least 1988 in the region. I find that homeowners were initially well-informed by market forces, but were later somewhat misinformed by government actions regarding the potential of water contamination from the plume. A disclosure law passed in 2003 may have added new, low-cost, and imperfect information to the market that could explain the change in informational awareness. |
| Wosid | WOS:000294883600010 |
| Is Certified Translation | No |
| Dupe Override | No |
| Is Public | Yes |
| Keyword | disclosure law; environmental disamenity; groundwater; groundwater contamination; hedonic model; incomplete information; water quality; real estate |