Using Happiness Surveys to Value Intangibles: The Case of Airport Noise
Использование опросов об удовлетворённости жизнью для оценки нематериальных благ: случай шума от аэропорта
2004-12-22
SCID: 54.1/8a5hxm8c
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airport noisehappiness surveyshedonic house price differentialslife satisfaction scalemonetary valuation
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Abstract (AI)
We assess the monetary value of the noise damage, caused by aircraft noise nuisance around Amsterdam Airport, as the sum of hedonic house price differentials and a residual cost component. The residual costs are assessed from a survey, including an ordinal life satisfaction scale, on which individual respondents have scored. The derived compensation scheme depends on, among other things, the objective noise level, income, the degree to which prices account for noise differences, and the presence of noise insulation. Copyright 2005 Royal Economic Society.
Key Findings
1
An ordinal life-satisfaction survey is used to assess residual costs that are not captured by differences in house prices.
2
The monetary value of aircraft-noise damage near Amsterdam Airport is estimated as hedonic house-price differentials plus a residual cost component.
3
The resulting compensation scheme varies with objective noise levels, household income, housing-market capitalization of noise, and noise insulation.
4
The study demonstrates how happiness surveys can help value intangible environmental damages such as airport noise nuisance.
Research Object
Aircraft noise nuisance around Amsterdam Airport (noise exposure affecting nearby residents and housing)
Research Subject
the monetary value of noise damage and its determinants, including hedonic house-price differentials, residual costs, life satisfaction, objective noise level, income, noise capitalization in prices, and noise insulation
Publication Details
Publication Date
2004-12-22
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