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Valuating Noise Reduction Benefits with Hedonics: Heterogeneity in NDSIs from Road Noise

M. Franck, J. Eyckmans and Sandra Rousseau ()

Review of Business and Economic Literature, 2013, vol. 58, issue 1, 2-34

Abstract: Policy evaluations (such as cost-benefit analysis) of noise reduction measures require reliable estimates of society’s willingness to pay for improving environmental quality. Hedonic regressions are widely used in the literature for that purpose. The results of this technique are oft en compared in terms of their Noise Depreciation Sensitivity Index (NDSI). Heterogeneity in the results (i.e. NDSI) is usually ascribed to differences in, for instance functional forms, cut-off points and the independent variables. The aim of this paper is to discuss these options in more depth. It will become clear that there is a need for transparency regarding these choices and their impact on the NDSI.

Date: 2013
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