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Title: Something in the Water? Testing for Groundwater Quality Information in the Housing Market
Authors: McLaughlin, Patrick A.
Keywords: disclosure law
environmental disamenity
groundwater contamination
hedonic model
incomplete information
water quality
real estate
Issue Date: 2011-08
Abstract: 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.
Institution/Association: Journal of Agricultural and Resource Economics>Volume 36, Number 2, August 2011
Total Pages: 20
From Page: 375
To Page: 394
Collections:Volume 36, Number 2, August 2011

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