The Effects of Environmental Liability on Industrial Real Estate Development

James W. Boyd (), Winston Harrington and Molly K Macauley

The Journal of Real Estate Finance and Economics, 1996, vol. 12, issue 1, pages 37-58

Abstract: The paper explores the effects of current liability law on real estate transactions involving properties with potential environmental contamination. Sources of uncertainty and their likely impact on transactions are identified. Liability-driven market distortions are likely to be due less to legal uncertainty than to problems arising from asymmetric information and imperfect detection. Copyright 1996 by Kluwer Academic Publishers

Date: 1996
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Persistent link: http://EconPapers.repec.org/RePEc:kap:jrefec:v:12:y:1996:i:1:p:37-58

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