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A sound investment? Traffic noise mitigation and property values

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  • S. Lindgren

Abstract

Traffic noise is a widespread problem that adversely affects health and well-being. A key policy question is how the benefit of noise mitigation compares with the cost. This study estimates the benefits of noise mitigation by its capitalization into property values. Using a dataset on properties considered for a noise mitigation programme, I estimate a difference-in-differences model that compares prices of properties receiving a measure to properties ineligible for the programme. Results show that noise mitigation raised property prices by 10–12 percent. The property price benefits exceed programme investment cost with each $1 spent on noise mitigation generating up to $1.7 in benefits.

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  • S. Lindgren, 2021. "A sound investment? Traffic noise mitigation and property values," Journal of Environmental Economics and Policy, Taylor & Francis Journals, vol. 10(4), pages 428-445, October.
    • Handle: RePEc:taf:teepxx:v:10:y:2021:i:4:p:428-445
    DOI: 10.1080/21606544.2021.1911861
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    Cited by:

    1. Elena Bykowa & Ivan Raguzin, 2024. "Substantiation of Estimation Methods of Technogenic Noise Impact in Cadastral Value Determination of Land Plots," Land, MDPI, vol. 13(2), pages 1-18, February.

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