Using Happiness Surveys to value Intangibles; the Case of Airport Noise

Bernard van Praag and Barbara Baarsma

No 04-024/3, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: We assess the monetary value of the noise damage, caused by aircraft noise nuisance around Amsterdam Airport, as the sum of hedonic house price differentials and a residual cost component. The residual costs are assessed from a survey, including an ordinal life satisfaction scale, on which individual respondents have scored. The derived compensation scheme depends on, among other things, the objective noise level, income, the degree to which prices account for noise differences, and the presence of noise insulation.

This discussion paper resulted in a publication in The Economic Journal , 2005, 115(500), 224-246.

See also: (B.S. Frey, A. Stutzer (Eds)), Recent developments in the economics of happiness , 2012, pp. 365-387, Cheltenham: Edward Elgar.

Keywords: cost-benefit analysis; externalities; airport noise; satisfaction analysis; residual shadow costs (search for similar items in EconPapers)
JEL-codes: C25 D61 D62 H23 L93 (search for similar items in EconPapers)
Date: 2004-02-27
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Related works:
Journal Article: Using Happiness Surveys to Value Intangibles: The Case of Airport Noise (2005)
Working Paper: Using Happiness Surveys to Value Intangibles: The Case of Airport Noise (2004)
Working Paper: Using Happiness Surveys to Value Intangibles: The Case of Airport Noise (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20040024

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