Stigmatized Asset Value: Is It Temporary or Long-Term?
研究危险废物场地发现和清理后，房地产价值中的污名是暂时还是长期现象，利用达拉斯县住房销售数据，发现结果关键取决于距场地距离，贫困水平变化导致的社区更替也可能影响污名持续时间。
Stigma is a negative attribute of real estate acquired by environmental contamination and reflected in its value (Elliot-Jones, 1996). Using a model of neighborhood turnover with external economies, we show that both temporary stigma and long-term stigma are possible equilibrium outcomes after the discovery and cleanup of a hazardous waste site. The existence and duration of stigma are examined using hedonic price techniques with data from housing sales prices in Dallas County, Texas. We find that results depend critically on distance from the hazardous waste site. Neighborhood turnover due to changes in the level of poverty also appears likely. © 2003 President and Fellows of Harvard College and the Massachusetts Institute of Technology.