This document, written for the US Department of Energy, discusses current information and the need for future research on estimating the impacts on wages and property values that could result from people's perceptions of the risks associated with noxious facilities. Psychometric studies indicate...

Claims of property value loss are commonly raised by homeowners when noxious facilities are sited or when new information about the hazards of existing facilities is made public. While the capitalization of externalities into land values is consistent with economic theory, empirical measurement...