The economic consequences of local gas leaks with evidence from Massachusetts housing market.

IF 4.6 2区综合性期刊 Q1 MULTIDISCIPLINARY SCIENCES iScience Pub Date : 2024-12-17 eCollection Date: 2024-12-20 DOI:10.1016/j.isci.2024.111483

Xingchi Shen, Morgan R Edwards, Yueming Lucy Qiu, Pengfei Liu

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引用次数: 0

Abstract

This study provides the first empirical evidence of the impact of leaks in natural gas distribution pipelines on nearby home prices. Using high-resolution property transaction data in Massachusetts and a difference-in-differences approach, we find that gas leaks significantly reduce nearby home prices by 2.61% ($11,700) on average. Damage to local greenery likely plays an important role in the negative impact of gas leaks on nearby home prices. The impact is economically and statistically significant for houses with high surrounding tree cover and not significant for houses with low surrounding tree cover. However, we fail to detect a significant difference in the impact before and after an information shock of a deadly natural gas accident. Our estimated benefits of fixing gas leaks are larger than the average costs per repair reported by utilities in Massachusetts, which supports actions by policymakers and environmental organizations to reduce methane emissions from gas distribution pipelines.

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来源期刊

iScience Multidisciplinary-Multidisciplinary

CiteScore

7.20

自引率

1.70%

发文量

1972

审稿时长

6 weeks

期刊介绍： Science has many big remaining questions. To address them, we will need to work collaboratively and across disciplines. The goal of iScience is to help fuel that type of interdisciplinary thinking. iScience is a new open-access journal from Cell Press that provides a platform for original research in the life, physical, and earth sciences. The primary criterion for publication in iScience is a significant contribution to a relevant field combined with robust results and underlying methodology. The advances appearing in iScience include both fundamental and applied investigations across this interdisciplinary range of topic areas. To support transparency in scientific investigation, we are happy to consider replication studies and papers that describe negative results. We know you want your work to be published quickly and to be widely visible within your community and beyond. With the strong international reputation of Cell Press behind it, publication in iScience will help your work garner the attention and recognition it merits. Like all Cell Press journals, iScience prioritizes rapid publication. Our editorial team pays special attention to high-quality author service and to efficient, clear-cut decisions based on the information available within the manuscript. iScience taps into the expertise across Cell Press journals and selected partners to inform our editorial decisions and help publish your science in a timely and seamless way.