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Ease vs. Noise: Long-run changes in the value of transport (dis)amenities

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  • Nitsch, Volker
  • Ahlfeldt, Gabriel M.
  • Wendland, Nicolai

Abstract

For a complete cost‐benefit analysis of durable infrastructures, it is important to understand how the value of non‐market goods such as transit time and environmental quality changes as incomes rise in the long‐run. We use difference‐in‐differences and spatial differencing to estimate the land price capitalization effects of metro rail in Berlin, Germany today and a century ago. Over this period, the negative implicit hedonic price of rail noise tripled. Our results imply income elasticities of the value of noise reduction and transport access of 2.2 and 1.4, substantially exceeding cross‐sectional contingent valuation estimates.

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  • Nitsch, Volker & Ahlfeldt, Gabriel M. & Wendland, Nicolai, 2019. "Ease vs. Noise: Long-run changes in the value of transport (dis)amenities," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 117314, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    • Handle: RePEc:dar:wpaper:117314
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    More about this item

    JEL classification:

    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • N73 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: Pre-1913
    • N74 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services - - - Europe: 1913-

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