Abstract
The goal of this paper is to observe whether and how harmful algal blooms are capitalized in home prices in several Ohio counties along Lake Erie. Harmful algal blooms have increased in severity and frequency, reducing the amenity value of the lake, posing health risks, and even threatening the drinking water supply. To address the problems of omitted variable bias due to unobserved emitter sites, we employ a repeat sales model. We find that a reduction of 1μg/L of chlorophyll-a yields a 2% increase in home prices, though the effect decays rapidly by distance. Secchi disk depth, while previous found to be significant in the literature, is statistically insignificant when utilizing repeat sales, and we find noticeable evidence of omitted variable bias when we do not control for emitter effects.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
