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Article History

Received: 17 January 2025

Revised: 26 November 2025

Accepted: 9 December 2025

First Online: 12 January 2026

Declarations

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: We confirm that this research complies with the ethical guidelines of Environmental and Resource Economics. The authors declare that they have no financial or nonfinancial conflicts of interest related to this research. This study does not involve human participants, personal data, or biological materials requiring ethical approval; therefore, informed consent was not necessary. All data used in this study are publicly available, except for the U.S. Environmental Protection Agency’s alert issuance data. All other data sources and replication code are available in a public repository linked to this article. We affirm that this manuscript represents original work and has not been published elsewhere.

: The authors declare that they have no relevant financial or non-financial interests to disclose.