@article{Cho:103762,
      recid = {103762},
      author = {Cho, Seong-Hoon and Roberts, Roland K. and Kim, Seung Gyu},
      title = {Negative Externalities on Property Values Resulting from  Water Impairment: The Case of the Pigeon River Watershed},
      address = {2011},
      number = {321-2016-10682},
      series = {Selected Paper},
      pages = {38},
      year = {2011},
      abstract = {The following hypothesis was tested: Willingness to bear a  negative water impairment
externality differs between those  who do and those who do not receive economic benefit  from
the impairment source, e.g., a paper mill. The  hypothesis was tested using a hedonic analysis of
ambient  water quality in two discrete housing markets in the Pigeon  River Watershed, which
have been polluted by the operation  of a paper mill. The results suggest that North  Carolina
residents of the subwatersheds with impaired  river, who experience economic benefits from the
paper mill  in addition to harmful effects, do perceive the pollution  as a negative externality,
whereas they may have a  willingness to bear a similar type of negative externality  associated
with impaired streams. In contrast, the effects  of both degraded river and streams on property
values is  perceived as a negative externality by residents in the  Tennessee side, who experience
only harmful effects from  the pollution. North Carolina residents may hold greater  willingness to
bear the harmful effects of pollution as a  given condition in their decision-making process
because  they receive economic benefits from the paper mill, while  this internalization of the
negative externality is weaker  for residents in the Tennessee side.},
      url = {http://ageconsearch.umn.edu/record/103762},
      doi = {https://doi.org/10.22004/ag.econ.103762},
}