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Homevoters vs. Leasevoters: A Spatial Analysis of Airport Effects

  • Gabriel Ahlfeldt
  • Wolfgang Maennig

We use a public referendum on a new air traffic concept in Berlin, Germany as a natural experiment to analyze how the interaction of tenure and capitalization effects shapes the outcome of direct democracy processes. We distinguish between homevoters, i.e., voters who are homeowners, and leasevoters, i.e., voters who lease their homes. We expect homevoters to be more likely to support or oppose initiatives that positively or negatively affect the amenity value of a neighborhood because some of the related benefits or costs of leasevoters are neutralized by adjustments in market rents (capitalization). Our empirical results are in line with our theoretical expectations and imply that public votes on local public goods do not necessarily reflect the spatial distribution of welfare effects in mixed-tenure environments.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2013/wp-cesifo-2013-06/cesifo1_wp4301.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 4301.

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Date of creation: 2013
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Handle: RePEc:ces:ceswps:_4301
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  1. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2013. "External Productivity and Utility Effects of City Airports," Regional Studies, Taylor & Francis Journals, vol. 47(4), pages 508-529, April.
  2. Frey, Bruno S & Oberholzer-Gee, Felix & Eichenberger, Reiner, 1996. "The Old Lady Visits Your Backyard: A Tale of Morals and Markets," Journal of Political Economy, University of Chicago Press, vol. 104(6), pages 1297-1313, December.
  3. Melanie Arntz & Ralf A. Wilke, 2007. "An application of cartographic area interpolation to German administrative data," AStA Advances in Statistical Analysis, Springer, vol. 91(2), pages 159-180, August.
  4. Dehring, Carolyn A. & Depken II, Craig A. & Ward, Michael R., 2008. "A direct test of the homevoter hypothesis," Journal of Urban Economics, Elsevier, vol. 64(1), pages 155-170, July.
  5. Jon P. Nelson, 2004. "Meta-Analysis of Airport Noise and Hedonic Property Values," Journal of Transport Economics and Policy, London School of Economics and University of Bath, vol. 38(1), pages 1-27, January.
  6. Halvorsen, Robert & Palmquist, Raymond, 1980. "The Interpretation of Dummy Variables in Semilogarithmic Equations," American Economic Review, American Economic Association, vol. 70(3), pages 474-75, June.
  7. Volker Nitsch, 2009. "Fly or Cry: Is Airport Noise Costly?," CESifo Working Paper Series 2732, CESifo Group Munich.
  8. Morris A. Davis & François Ortalo-Magné, 2007. "Household Expenditures, Wages, Rents," CESifo Working Paper Series 2156, CESifo Group Munich.
  9. Stephanie Riegg Cellini & Fernando Ferreira & Jesse Rothstein, 2010. "The Value of School Facility Investments: Evidence from a Dynamic Regression Discontinuity Design," The Quarterly Journal of Economics, MIT Press, vol. 125(1), pages 215-261, February.
  10. Helios Herrera & Andrea Mattozzi, 2010. "Quorum and Turnout in Referenda," Journal of the European Economic Association, European Economic Association, vol. 8(4), pages 838-871, 06.
  11. Ahlfeldt, Gabriel M., 2011. "Blessing or curse? Appreciation, amenities and resistance to urban renewal," Regional Science and Urban Economics, Elsevier, vol. 41(1), pages 32-45, January.
  12. McMillen, Daniel P., 1996. "One Hundred Fifty Years of Land Values in Chicago: A Nonparametric Approach," Journal of Urban Economics, Elsevier, vol. 40(1), pages 100-124, July.
  13. Brunner, Eric & Sonstelie, Jon, 2003. "Homeowners, property values, and the political economy of the school voucher," Journal of Urban Economics, Elsevier, vol. 54(2), pages 239-257, September.
  14. Raquel Arévalo & Javier Ruiz-Castillo, 2006. "On the Imputation of Rental Prices to Owner-occupied Housing," Journal of the European Economic Association, MIT Press, vol. 4(4), pages 830-861, 06.
  15. Christian A. L. Hilber & Christopher J. Mayer, 2004. "Why Do Households Without Children Support Local Public Schools?," NBER Working Papers 10804, National Bureau of Economic Research, Inc.
  16. Brunner, Eric & Sonstelie, Jon & Thayer, Mark, 2001. "Capitalization and the Voucher: An Analysis of Precinct Returns from California's Proposition 174," Journal of Urban Economics, Elsevier, vol. 50(3), pages 517-536, November.
  17. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
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