The effects of environmental liability on industrial real estate development

被引：31

作者：

Boyd, J

Harrington, W

Macauley, MK

机构：

[1] Resources for the Future, Washington, DC 20036, 1616 P Street, NW

来源：

JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS | 1996年 / 12卷 / 01期

关键词：

liability; uncertainty; industrial redevelopment;

D O I：

10.1007/BF00127765

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

The paper explores the effects of current liability law on real estate transactions involving properties with potential environmental contamination. Sources of uncertainty and their likely impact on transactions are identified. Liability-driven market distortions are likely to be due less to legal uncertainty than to problems arising from asymmetric information and imperfect detection.

引用

页码：37 / 58

页数：22

共 36 条

[1] MARKET FOR LEMONS - QUALITY UNCERTAINTY AND MARKET MECHANISM [J].