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Ease vs. noise: long-run changes in the value of transport (dis)amenities

Ahlfeldt, Gabriel M., Nitsch, Volker and Wendland, Nicolai (2019) Ease vs. noise: long-run changes in the value of transport (dis)amenities. Journal of Environmental Economics and Management, 98. ISSN 0095-0696

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Identification Number: 10.1016/j.jeem.2019.102268

Abstract

For a complete cost-benefit analysis of durable infrastructures, it is important to understand how the value of non-market goods such as transit time and environmental quality changes as incomes rise in the long-run. We use difference-in-differences and spatial differencing to estimate the land price capitalization effects of metro rail in Berlin, Germany today and a century ago. Over this period, the negative implicit hedonic price of rail noise tripled. Our results imply income elasticities of the value of noise reduction and transport access of 2.2 and 1.4, substantially exceeding cross-sectional contingent valuation estimates.

Item Type: Article
Official URL: https://www.journals.elsevier.com/journal-of-envir...
Additional Information: © 2019 Elsevier Inc
Divisions: Geography & Environment
Subjects: H Social Sciences > HC Economic History and Conditions
G Geography. Anthropology. Recreation > GE Environmental Sciences
JEL classification: R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade
R - Urban, Rural, and Regional Economics > R1 - General Regional Economics > R14 - Land Use Patterns
R - Urban, Rural, and Regional Economics > R4 - Transportation Systems > R41 - Transportation: Demand, Supply, and Congestion; Safety and Accidents; Transportation Noise
N - Economic History > N7 - Transport, International and Domestic Trade, Energy, Technology, and Other Services > N73 - Europe: Pre-1913
N - Economic History > N7 - Transport, International and Domestic Trade, Energy, Technology, and Other Services > N74 - Europe: 1913-
Date Deposited: 26 Sep 2019 12:57
Last Modified: 27 Jan 2020 00:20
URI: http://eprints.lse.ac.uk/id/eprint/101736

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