[CPEO-BIF] EPA benefit study

["Hersh, Robert" <hersh@WPI.EDU>]

In a recent report, EPA economists review the academic literature on
measuring direct and indirect social benefits from land cleanup and reuse.
The authors examine three different approaches:  effect-by-effect modeling,
stated preference studies, and hedonic property models.  The report concludes
with the following points:

Direct estimation of health benefits based on risk assessment has been
problematic due to the wide variety of contaminants found at many sites and
the lack of appropriate data for many health endpoints. 

While hedonic pricing studies have contributed estimates of how the early
stages of the cleanup process affect surrounding property values, these data
are inconclusive and there are unresolved practical issues using hedonic
methods in the context of land cleanup and reuse.

To download a copy of the report, see
http://yosemite.epa.gov/EE/epa/eed.nsf/WPNumberNew/2006-03?OpenDocument


Bob Hersh
CPEO






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