Urban traffic externalities: quasi-experimental evidence from housing prices
This paper exploits a quasi-experiment to value the benefits of reducing urban traffic externalities. As a source of exogenous variation we use the opening of a new bypass in The Hague, the Netherlands, that reduced traffic on a number of local streets, leaving others unaffected. We calculate the effect of the change in traffic nuisance on housing prices and find that a reduction of 50% in traffic density induces a 1% increase in housing prices on average. Reductions in traffic nuisance are valued much more positively when the traffic density is already high. We do not find evidence of anticipation effects up to 3 years before the change. Furthermore, our results indicate that traffic nuisance effects are likely to be biased in cross-sectional studies.
|Date of creation:||Feb 2014|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (070) 338 33 80
Fax: (070) 338 33 50
Web page: http://www.cpb.nl/
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- De Borger, Bruno & Proost, Stef, 2013. "Traffic externalities in cities: The economics of speed bumps, low emission zones and city bypasses," Journal of Urban Economics, Elsevier, vol. 76(C), pages 53-70.
- Henrik Andersson & Lina Jonsson & Mikael Ögren, 2010.
"Property Prices and Exposure to Multiple Noise Sources: Hedonic Regression with Road and Railway Noise,"
Environmental & Resource Economics,
European Association of Environmental and Resource Economists, vol. 45(1), pages 73-89, January.
- Andersson, Henrik & Jonsson, Lina & Ögren, Mikael, 2008. "Property Prices and Exposure to Multiple Noise Sources: Hedonic Regression with Road and Railway Noise," Working Papers 2008:10, Swedish National Road & Transport Research Institute (VTI).
- ANDERSSON Henrik & JONSSON Lina & OGREN Mikael, 2008. "Property Prices and Exposure to Multiple Noise Sources: Hedonic Regression with Road and Railway Noise," LERNA Working Papers 08.25.269, LERNA, University of Toulouse.
- Gibbons, Stephen & Machin, Stephen, 2005.
"Valuing rail access using transport innovations,"
Journal of Urban Economics,
Elsevier, vol. 57(1), pages 148-169, January.
- Stephen Gibbons & Stephen Machin, 2004. "Valuing rail access using transport innovations," LSE Research Online Documents on Economics 19989, London School of Economics and Political Science, LSE Library.
- Steve Gibbons & Stephen Machin, 2004. "Valuing Rail Access Using Transport Innovations," CEP Discussion Papers dp0611, Centre for Economic Performance, LSE.
- 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..
- Brett Day & Ian Bateman & Iain Lake, 2007. "Beyond implicit prices: recovering theoretically consistent and transferable values for noise avoidance from a hedonic property price model," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 37(1), pages 211-232, May.
- 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.
- Eliasson, Jonas, 2009. "A cost-benefit analysis of the Stockholm congestion charging system," Transportation Research Part A: Policy and Practice, Elsevier, vol. 43(4), pages 468-480, May.
- Karamychev, Vladimir & van Reeven, Peran, 2011. "Park-and-ride: Good for the city, good for the region?," Regional Science and Urban Economics, Elsevier, vol. 41(5), pages 455-464, September.
- Ian W. H. Parry & Margaret Walls & Winston Harrington, 2007.
"Automobile Externalities and Policies,"
Journal of Economic Literature,
American Economic Association, vol. 45(2), pages 373-399, June.
- Michael Greenstone & Ted Gayer, 2007.
"Quasi-Experimental and Experimental Approaches to Environmental Economics,"
0713, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
- Greenstone, Michael & Gayer, Ted, 2009. "Quasi-experimental and experimental approaches to environmental economics," Journal of Environmental Economics and Management, Elsevier, vol. 57(1), pages 21-44, January.
- Billings, Stephen B., 2011. "Estimating the value of a new transit option," Regional Science and Urban Economics, Elsevier, vol. 41(6), pages 525-536.
- Jonathan Leape, 2006. "The London Congestion Charge," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 157-176, Fall.
- Jos van Ommeren & Derk Wentink & Jasper Dekkers, 2009.
"The Real Price of Parking Policy,"
Tinbergen Institute Discussion Papers
09-083/3, Tinbergen Institute.
- McDonald, John F. & Osuji, Clifford I., 1995. "The effect of anticipated transportation improvement on residential land values," Regional Science and Urban Economics, Elsevier, vol. 25(3), pages 261-278, June.
- Henrik Andersson & Lina Jonsson & Mikael Ogren, 2010. "Property prices and exposure to multiple noise sources: hedonic regression with road and railwy noise," Working Papers 47267, Institut National de la Recherche Agronomique, France.
- Daniel P. McMillen & John McDonald, 2004. "Reaction of House Prices to a New Rapid Transit Line: Chicago's Midway Line, 1983-1999," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 32(3), pages 463-486, 09.
- Kenneth Y. Chay & Michael Greenstone, 2005.
"Does Air Quality Matter? Evidence from the Housing Market,"
Journal of Political Economy,
University of Chicago Press, vol. 113(2), pages 376-424, April.
- Kenneth Y. Chay & Michael Greenstone, 1998. "Does Air Quality Matter? Evidence from the Housing Market," NBER Working Papers 6826, National Bureau of Economic Research, Inc.
- H. Allen Klaiber & V. Kerry Smith, 2010. "Valuing Incremental Highway Capacity in a Network," NBER Working Papers 15989, National Bureau of Economic Research, Inc.
- Boes, Stefan & Nüesch, Stephan, 2011. "Quasi-experimental evidence on the effect of aircraft noise on apartment rents," Journal of Urban Economics, Elsevier, vol. 69(2), pages 196-204, March.
When requesting a correction, please mention this item's handle: RePEc:cpb:discus:267. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ()
If references are entirely missing, you can add them using this form.