Something in the Water? Testing for Groundwater Quality Information in the Housing Market
Patrick McLaughlin ()
Journal of Agricultural and Resource Economics, 2011, vol. 36, issue 2, 20
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.
Keywords: Consumer/Household Economics; Resource /Energy Economics and Policy (search for similar items in EconPapers)
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