The Journal of Real Estate Finance and Economics
Volume 12, Issue 1, Article 3 (Abstract)
Title:	The Effects of Environmental Liability on Industrial Real Estate Development
Author:	James Boyd, Winston Harrington and Molly K. Macauley
Abstract:	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.
Keywords:	liability, uncertainty, industrial redevelopment