Ahlfeldt, Gabriel M., Nitsch, Volker and Wendland, Nicolai
(2019)
Ease versus noise: long-run changes in the value of transport (dis)amenities.
CEP Discussion Papers (1631).
Centre for Economic Performance, LSE, London, UK.
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 longrun. 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 effect of rail noise tripled in percentage terms. Our results imply long-run 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: |
Monograph
(Discussion Paper)
|
Official URL: |
http://cep.lse.ac.uk/_new/publications/series.asp?... |
Additional Information: |
© 2019 The Authors |
Divisions: |
Geography & Environment |
Subjects: |
H Social Sciences > HE Transportation and Communications H Social Sciences > HD Industries. Land use. Labor H Social Sciences > HC Economic History and Conditions |
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: |
06 Dec 2019 15:45 |
Last Modified: |
13 Dec 2020 00:58 |
URI: |
http://eprints.lse.ac.uk/id/eprint/102824 |
Actions (login required)
 |
View Item |