The Effect of Air Pollution on House Values

It Has Often Been Said That AIr Pollution Will Have a Detrimental Effect on Residential Property Values. The Evidence, However, Is Quite Skimpy. Urban Land Economists and Real Estate Appraisers Have From Time to Time Made General Comments That Nuisances, Including AIr Pollution, Made a Neighborhood a Less Desirable Place in Which to Live. This Paper Is a Theoretical Analysis of How to Measure the Result of Attempts to Estimate This Impact in a More Extensive Study to Estimate the Social Costs of AIr Pollution Not Incurred by Firms Causing the Pollution. In the Final Section of the Paper the Results of the Statistical Studies Are Presented. /Author/