Lead Paint, Toxic Torts, and the Housing Stock: A Case Study in Risk Assessment

Journal of Real Estate Finance and Economics, Vol. 17, No. 2

Posted: 23 Apr 1998

Abstract

Numerous policy makers have accepted claims in the public health literature that the United States is in the midst of a serious epidemic of childhood lead poisoning, due primarily to lead paint in the housing stock. This paper analyzes some of the most influential lead paint epidemiological studies from an economics perspective and finds evidence that the claimed effects of lead on IQ, school success, and other outcomes may be grossly exaggerated. In addition, the main cost-benefit analysis used by policymakers to advocate lead paint abatement of the entire U.S. housing stock contains serious mathematical errors and strikingly implausible economic assumptions. A corrected model shows that the proposed national abatement policy is likely to yield no net benefit.

JEL Classification: R0, I18

Suggested Citation

Epstein, Roy J., Lead Paint, Toxic Torts, and the Housing Stock: A Case Study in Risk Assessment. Journal of Real Estate Finance and Economics, Vol. 17, No. 2, Available at SSRN: https://ssrn.com/abstract=75144

Roy J. Epstein (Contact Author)

Independent ( email )

34 Cushing Ave.
02478

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