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Living on a Noisy and Dusty Street: Implications for Environmental Evaluation

Author

Listed:
  • Tagreed Boules
  • Robert Gagné
  • Paul Lanoie

Abstract

This paper contributes to the literature on the hedonic pricing method in three different ways: i) the experimental context is new and typical of many urban settings, i.e. comparison between the price of houses located on a noisy and dusty street and that of houses located on a quiet and clean street in the same neighborhood; ii) this experimental context allows us, in a sense, to combine for the first time two popular valuation methods (standard hedonic pricing and repeat-sale analysis); and iii) in contrast with previous studies that focused on one aspect of environmental quality, we investigate the impact of two environmental attributes on houses' price, namely noise and air pollution (dust), which have been measured specifically for this study. Our results show that neither of these environmental attributes has an impact on the houses' price. Cette étude propose trois contributions à la littérature s'intéressant à la méthode des prix hédoniques: i) le contexte expérimental est différent des études antérieures puisqu'il utilise un échantillon de transactions sur des propriétés résidentielles d'un même quartier, certaines localisées sur une rue poussiéreuse et bruyante et d'autres sur des rues calmes et propres; ii) ce contexte expérimental permet pour la première fois de combiner deux approches (la méthode des prix hédoniques et l'analyse des ventes répétées); et iii) contrairement aux études précédentes qui ne s'intéressaient qu'à un aspect environnemental, nous considérons l'impact de deux aspects environnementaux, le bruit et la qualité de l'air, ces deux aspects ayant été l'objet de mesures spécifiques pour cette étude. Nos résultats montrent qu'aucun des deux aspects de la qualité de l'environnement n'a d'effet sur le prix des propriétés résidentielles.

Suggested Citation

  • Tagreed Boules & Robert Gagné & Paul Lanoie, 1997. "Living on a Noisy and Dusty Street: Implications for Environmental Evaluation," CIRANO Working Papers 97s-08, CIRANO.
  • Handle: RePEc:cir:cirwor:97s-08
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    File URL: http://www.cirano.qc.ca/files/publications/97s-08.pdf
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    References listed on IDEAS

    as
    1. Kohlhase, Janet E., 1991. "The impact of toxic waste sites on housing values," Journal of Urban Economics, Elsevier, vol. 30(1), pages 1-26, July.
    2. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    3. Phil Graves & James C. Murdoch & Mark A. Thayer & Don Waldman, 1988. "The Robustness of Hedonic Price Estimation: Urban Air Quality," Land Economics, University of Wisconsin Press, vol. 64(3), pages 220-233.
    4. Palmquist, Raymond B., 1982. "Measuring environmental effects on property values without hedonic regressions," Journal of Urban Economics, Elsevier, vol. 11(3), pages 333-347, May.
    5. Gene M. Grossman & Alan B. Krueger, 1995. "Economic Growth and the Environment," The Quarterly Journal of Economics, Oxford University Press, vol. 110(2), pages 353-377.
    6. O'Byrne, Patricia Habuda & Nelson, Jon P. & Seneca, Joseph J., 1985. "Housing values, census estimates, disequilibrium, and the environmental cost of airport noise: A case study of Atlanta," Journal of Environmental Economics and Management, Elsevier, vol. 12(2), pages 169-178, June.
    7. Dean H. Gatzlaff & Marc T. Smith, 1993. "The Impact of the Miami Metrorail on the Value of Residences near Station Locations," Land Economics, University of Wisconsin Press, vol. 69(1), pages 54-66.
    8. Mendelsohn, Robert & Hellerstein, Daniel & Huguenin, Michael & Unsworth, Robert & Brazee, Richard, 1992. "Measuring hazardous waste damages with panel models," Journal of Environmental Economics and Management, Elsevier, vol. 22(3), pages 259-271, May.
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