【摘要】Actual and perceived damages from environmental disamenities can disrupt a utility maximizing household's otherwise optimal decision of when to sell their home. This study examines this relatively under-investigated topic with an empirical application to petroleum releases from leaking underground storage tanks, like those commonly found at gas stations. The ubiquity and relative homogeneity of this disamenity facilitates a difference-in-differences methodology. The results reveal that the timing of home sales is impacted by leak and cleanup events at these disamenities; leading to both selling sooner and delaying a sale, depending on the event, presence of the primary exposure pathway, and the quality of the home. The implications of these results are discussed.

【关键词】Housing market,Property transaction,Discrete time duration model,Underground storage tank,Groundwater contamination

【文献来源】Dennis B. Guignet, Adan L. Martinez-Cruz .The impacts of underground petroleum releases on a homeowner's decision to sell: A difference-in-differences approach .Regional Science and Urban Economics ,2018(69).