The Effects of Environmental Liability on Industrial Real Estate Development
THE JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, Vol 12 No 1
Posted: 8 Jul 1998
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.
JEL Classification: R0, K13, Q20
Suggested Citation: Suggested Citation