Systematic Variation in Waste Site Effects on Residential Property Values: A Meta-Regression Analysis and Benefit Transfer
Marvin Schütt ()
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Marvin Schütt: Kiel University
Environmental & Resource Economics, 2021, vol. 78, issue 3, No 1, 416 pages
Abstract This article presents a meta-analysis based on 727 estimates from 83 hedonic pricing studies to provide new insights on the effects of waste sites on residential property values. Relative to previous meta-analyses on this subject, estimates are corrected for publication bias and the ability of the meta-regression model to produce reliable benefit-transfer estimates is assessed. Proximity to severely contaminated waste sites has a supremely negative impact on residential property values, whereas on average the distance from non-hazardous waste sites has no effect. Correcting for publication bias has a sizeable impact, reducing the average effect size by up to 38%. Benefit-transfer errors based on the meta-regression model are fairly large and, in line with the broader literature, outperform simple value transfer when the underlying data sample is heterogeneous.
Keywords: Hedonic price model; Meta-regression analysis; Publication bias; Residential property values; Waste sites (search for similar items in EconPapers)
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