【摘要】The willingness of households to pay for prevention against industrial risks can be revealed by real estate markets. By using very rich microdata, we study housing prices in the vicinity of hazardous industries near three important French cities. We show that the impact of hazardous plants on the housing values strongly differs among these three areas, even if the areas all surround chemical and petrochemical industries. We compare the results from both standard parametric and more flexible, semiparametric models of hedonic property. We show that the parametric model might structurally lead to important biases in the estimated value of the impact of hazardous plants on housing values.

【关键词】Hedonic analysis; Conditionally parametric regression; Urban housing markets; Industrial risk

【文献来源】Céline Grislain-Letrémy; Arthur Katossky.Regional Science and Urban Economics.2014（11）