Determining Market Perceptions on Contamination of Residential Property Buyers Using Contingent Valuation Surveys

Robert Simons and Kimberly Winson-Geideman

Journal of Real Estate Research, 2005, vol. 27, issue 2, 193-220

Abstract: This study reports the results of contingent valuation (CV) studies conducted in eight states in the United States. Over 1,100 telephone interviews examined valuation effects on residential properties impacted by Leaking Underground Storage Tanks (LUST). Negative discounts for marginal bidders with affected ground water were quite consistent, varying from −25% to −33%. ANOVA established that bidding patterns from six of the seven states were statistically similar while male bidders, those over 40 years of age and those with no high school degree were more likely to bid; those with higher incomes and those bidding on certain, rather than suspected contamination, were less likely to bid. Contingent valuation results benchmark reasonably close to but higher than revealed preference outcomes for residential LUST sites in Ohio.

Date: 2005
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2005.12091154 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rjerxx:v:27:y:2005:i:2:p:193-220

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rjer20

DOI: 10.1080/10835547.2005.12091154

Access Statistics for this article

Journal of Real Estate Research is currently edited by William Hardin and Michael Seiler

More articles in Journal of Real Estate Research from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().