The DOI matches its Crossref record.
Private Values of Risk Tradeoffs at Superfund Sites: Housing Market Evidence on Learning about Risk
Abstract
This paper incorporates a Bayesian learning model into a hedonic framework to estimate the value that residents place on avoiding cancer risks from hazardous-waste sites. We show that residents are willing to pay to avoid cancer risks from Superfund sites before the U.S. Environmental Protection Agency (EPA) releases its assessment (known as the Remedial Investigation) of the site. Residents' willingness to pay to avoid risks actually decreases after the release of the Remedial Investigation, suggesting that the information lowers the perceived levels of risk. This estimated willingness to pay implies a statistical value of cancer similar to the value-of-life estimates in labor market studies.
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Citations
Cited by
The value of a statistical life: A critical review of market estimates throughout the world
Viscusi, W. K., & Aldy, J. E. (2003) · Journal of Risk and Uncertainty · doi:10.1023/a:1025598106257 · Cited by 2,135
Self-citationChanges in implicit flood risk premiums: Empirical evidence from the housing market
Bin, O., & Landry, C. E. (2013) · Journal of Environmental Economics and Management · doi:10.1016/j.jeem.2012.12.002 · Cited by 474
Does Hazardous Waste Matter? Evidence from the Housing Market and the Superfund Program*
Greenstone, M., & Gallagher, J. (2008) · Quarterly Journal of Economics · doi:10.1162/qjec.2008.123.3.951 · Cited by 435
Mueller, J., Loomis, J., & González-Cabán, A. (2009) · The Journal of Real Estate Finance and Economics · doi:10.1007/s11146-007-9083-1 · Cited by 127
LeGower, M., & Walsh, R. (2017) · Journal of Urban Economics · doi:10.1016/j.jue.2017.06.001 · Cited by 51
Metadata
- Authors
- Gayer, T., Hamilton, J. T., & Viscusi, W. K.
- Venue
- Review of Economics and Statistics
- Publisher
- MIT Press
- Published
- 2000-08
- Volume
- 82
- Issue
- 3
- Pages
- 439-451
- ISSN
- 0034-6535 (ISSN-L)
- 1530-9142
- OpenAlex
- W2119807911
- Cited by
- 271
- References
- 0
- FWCI
- 11.88
- Type
- journal article
- Language
- en
- Open access
- closed
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- Gayer, T., Hamilton, J. T., & Viscusi, W. K. (2000). Private Values of Risk Tradeoffs at Superfund Sites: Housing Market Evidence on Learning about Risk. Review of Economics and Statistics. https://doi.org/10.1162/003465300558939
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
