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作者

Wenze Yue;Chaoran Ni;Chuanhao Tian;Haizhen Wen;Li Fang

来源

JOURNAL OF URBAN PLANNING AND DEVELOPMENT,Vol.146,Issue2

语言

英文

关键字

作者单位

Professor, Institute of Land Science and Property, Zhejiang Univ., Hangzhou 310058, China. ORCID: https://orcid.org/0000-0002-7533-3294. Email: [email protected];Graduate Student, Dept. of Land Management, Zhejiang Univ., Hangzhou 310058, China. Email: [email protected];Professor, School of Public Administration, Zhejiang Univ., Hangzhou 310058, China (corresponding author). ORCID: https://orcid.org/0000-0003-0993-5606. Email: [email protected];Associate Professor, Center of Real Estate Studying, Zhejiang Univ., Hangzhou 310058, China. Email: [email protected];Assistant Professor, Dept. Urban and Regional Planning, Florida State Univ., 349 Bellamy Building, 113 Collegiate Loop, Tallahassee, FL 32304. ORCID: https://orcid.org/0000-0003-1462-6357. Email: [email protected]

摘要

Environmental pollution incidents affect urban residents and the natural environment. This article employs hedonic price models and a difference-in-difference (DID) approach to examine how widely in space an environmental incident affects housing prices and how great this effect is over several time periods. Using the well-known 2014 Hangzhou Pesticide Plant (HPP) pollution cleanup incident as an example, this research confirms the following: (1) This pesticide plant incident depreciated house prices within 3 km by 2.955%, that is by 41,712 yuan, at the 5% significance level. (2) The devaluation persisted even after the removal of the pollution. Our results suggest that environmental events can devaluate nearby properties beyond the extent of the actual pollution by imposing a “quasi-stigma” (negative perception) on these houses. This effect can be persistent and hard to overturn and arises from perceived disamenitities, taints on the properties.