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The Shadow Price of Aircraft Noise Nuisance

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  • Bernard M.S. van Praag

    ()
    (University of Amsterdam)

  • B.E. Baarsma

    ()
    (University of Amsterdam)

Abstract

This paper has a twofold objective. First, we develop a new method toassess the monetary value for individuals of external effects (viz., aircraftnoise nuisance) which are not or only partly internalized in market prices. The method makes use of an ordinal index of life satisfaction as scored by individual respondents who are subjected in varying intensity to the external effect. Our second objective is to assess, with this method, to what extent noise nuisance effects around Amsterdam Airport Schiphol are internalizedand what should be the monetary compensation for the nuisance. Such acompensation scheme depends on, among other things, the objective noise level,income and the presence of noise insulation. The results are both significant and plausible. The method is generally applicable.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 00-004/3.

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Date of creation: 10 Feb 2000
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Handle: RePEc:dgr:uvatin:20000004

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References

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  1. Pearce, David, 1992. "Economic valuation and the natural world," Policy Research Working Paper Series 988, The World Bank.
  2. Van Praag, Bernard, 1971. "The welfare function of income in Belgium: An empirical investigation," European Economic Review, Elsevier, vol. 11(3), pages 337-369.
  3. Plug, Erik J. S. & van Praag, Bernard M. S. & Hartog, Joop, 1999. "If we knew ability, how would we tax individuals?," Journal of Public Economics, Elsevier, vol. 72(2), pages 183-211, May.
  4. Oswald, Andrew J, 1997. "Happiness and Economic Performance," Economic Journal, Royal Economic Society, vol. 107(445), pages 1815-31, November.
  5. Blanchflower, David G. & Oswald, Andrew J., 2004. "Well-being over time in Britain and the USA," Journal of Public Economics, Elsevier, vol. 88(7-8), pages 1359-1386, July.
  6. Clark, Andrew E & Oswald, Andrew J, 1994. "Unhappiness and Unemployment," Economic Journal, Royal Economic Society, vol. 104(424), pages 648-59, May.
  7. Van Praag, B.M.S., 1989. "The Relativity of the Welfare Concept," Research Paper 69, World Institute for Development Economics Research.
  8. Blomquist, Glenn C & Berger, Mark C & Hoehn, John P, 1988. "New Estimates of Quality of Life in Urban Areas," American Economic Review, American Economic Association, vol. 78(1), pages 89-107, March.
  9. Bernard M.S. van Praag & Paul Frijters, 1999. "The measurement of welfare and well-being; the Leyden approach," School of Economics and Finance Discussion Papers and Working Papers Series 071a, School of Economics and Finance, Queensland University of Technology.
  10. Bruno S. Frey & Alois Stutzer, 2000. "Happiness, Economy and Institutions," CESifo Working Paper Series 246, CESifo Group Munich.
  11. Menno Pradhan & Martin Ravallion, 2000. "Measuring Poverty Using Qualitative Perceptions Of Consumption Adequacy," The Review of Economics and Statistics, MIT Press, vol. 82(3), pages 462-471, August.
  12. van Praag, Bernard M. S., 1991. "Ordinal and cardinal utility : An integration of the two dimensions of the welfare concept," Journal of Econometrics, Elsevier, vol. 50(1-2), pages 69-89, October.
  13. Bernard M.S. van Praag & B.E. Baarsma, 2000. "The Shadow Price of Aircraft Noise Nuisance," Tinbergen Institute Discussion Papers 00-004/3, Tinbergen Institute.
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Citations

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Cited by:
  1. Bernard M.S. van Praag & B.E. Baarsma, 2001. "The Shadow Price of Aircraft Noise Nuisance," Tinbergen Institute Discussion Papers 01-010/3, Tinbergen Institute.
  2. Katrin Rehdanz & David J. Maddison, 2003. "Climate and Happiness," Working Papers FNU-20, Research unit Sustainability and Global Change, Hamburg University, revised Apr 2003.
  3. Ada Ferrer-i-Carbonell, 2002. "Subjective Questions to Measure Welfare and Well-being," Tinbergen Institute Discussion Papers 02-020/3, Tinbergen Institute.
  4. Bernard M. S. van Praag & Barbara E. Baarsma, 2005. "Using Happiness Surveys to Value Intangibles: The Case of Airport Noise," Economic Journal, Royal Economic Society, vol. 115(500), pages 224-246, 01.
  5. Bernard M.S. van Praag & P. Frijters & A. Ferrer-i-Carbonell, 2002. "The Anatomy of Subjective Well-being," Tinbergen Institute Discussion Papers 02-022/3, Tinbergen Institute.
  6. Carlsson, Fredrik, 2002. "Airport Marginal Cost Pricing: Discussion and an Application to Swedish Airports," Working Papers in Economics 85, University of Gothenburg, Department of Economics.
  7. Gisela Hostenkamp & Michael Stolpe, 2006. "The Health Gradient and Early Retirement: Evidence from the German Socio-economic Panel," Kiel Working Papers 1305, Kiel Institute for the World Economy.
  8. David Meintrup & Chang Woon Nam, 2009. "Shadow market area for air pollutants," Environment and Planning B: Planning and Design, Pion Ltd, London, vol. 36(4), pages 664-681, July.
  9. Carlsson, Fredrik & Lampi, Elina & Martinsson, Peter, 2004. "Measuring marginal values of noise disturbance from air traffic: Does the time of the day matter?," UmeÃ¥ Economic Studies 627, Umeå University, Department of Economics.
  10. Axel Börsch-Supan & Hendrik Jürges, 2006. "Early Retirement, Social Security and Well-Being in Germany," NBER Working Papers 12303, National Bureau of Economic Research, Inc.
  11. Noelia Somarriba Arechavala & Bernardo Pena Trapero, 2008. "Quality Of Life And Subjective Welfare In Europe: An Econometric Analysis," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 8(2), pages 55-66.
  12. Kaval, Pamela & Loomis, John B., 2005. "The Relationship Between Wildfire and Welfare," 2005 Conference, August 26-27, 2005, Nelson, New Zealand 98517, New Zealand Agricultural and Resource Economics Society.
  13. Morimoto, Risako & Hope, Chris, 2005. "Making the case for developing a silent aircraft," Transport Policy, Elsevier, vol. 12(2), pages 165-174, March.

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