2014/10/07 by Sotirios Thanos, Abigail L. Bristow, A Bristow +2
Economics, Econometrics and Finance · Health Professions · #Housing Market and Economics #Noise Effects and Management #Economic and Environmental Valuation
paper · pdf · doi:10.1111/jors.12162
ABSTRACT This paper explores the sorting process in response to differing levels of aviation noise exposure in a housing market. Spatiotemporal hedonic pricing (HP) and stated choice (SC) results reflect nonlinearities and stigma. The HP models reveal nonlinear noise depreciation increasing from 0.40 to 2.38 percent per decibel as noise increases, while the SC noise values are lower in an area with high long‐term noise exposure. These nonlinearities are attributed to the spatial sorting of noise tolerant individuals. HP results from the same “noisy” area show a “stigma” from noise during the first year after the complete removal of aviation noise.