The amenity cost of road noise

Kathrine von Graevenitz

No 16-087, ZEW Discussion Papers from ZEW - Leibniz Centre for European Economic Research

Abstract: This article reports a complete two stage hedonic analysis for road noise. For the estimation of the hedonic price function I develop a spatial research design which simultaneously reduces the risk of omitted variable bias and the risk of measurement error in the noise measure. The preference parameters are identified following the approach developed in Bajari and Benkard (2005) by using a simple functional form for utility. Preferences are very heterogeneous and observable demographic characteristics explain 30 percent of the variation in taste for quiet. Results are used to discuss willingness to pay for noise reductions from two policy measures.

Keywords: hedonic method; traffic noise; preferences; measurement error (search for similar items in EconPapers)
JEL-codes: D12 Q51 Q53 R23 R41 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-tre, nep-upt and nep-ure
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Related works:
Journal Article: The amenity cost of road noise (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zewdip:16087

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