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Valuation of Traffic-Noise Abatements
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.
2005 (English)In: Journal of Housing and the Built Environment, ISSN 1566-4910, E-ISSN 1573-7772, Vol. 20, no 2, 129-151 p.Article in journal (Refereed) Published
Abstract [en]

The purpose of this paper is to analyze the economic consequences of an investment in traffic-noise abatement. Two hypotheses are tested: first, a noise barrier has a positive capitalization effect on the values of single-family houses; second, there is a difference in capitalization rate between houses close to and remote from the road. Both hypotheses are verified. The benefits have been estimated by analyzing prices of houses that have been sold more than once; that is the repeated-sales method (RSM). The repeated-sales model has been tested for sample selection bias and the implicit assumption about parameter constancy over time. The total benefit to the stock of houses has been estimated and compared with the total cost. I conclude that in this case, public investment in a traffic-noise barrier can be clearly justified.

Place, publisher, year, edition, pages
2005. Vol. 20, no 2, 129-151 p.
Keyword [en]
Benefit estimation, Repeated-sales method, Traffic noise abatement
National Category
URN: urn:nbn:se:kth:diva-59633DOI: 10.1007/s10901-005-9001-xScopusID: 2-s2.0-29444444395OAI: diva2:475986
QC 20120113Available from: 2012-01-11 Created: 2012-01-11 Last updated: 2012-01-13Bibliographically approved

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