Template-Type: ReDIF-Paper 1.0 Series: Tinbergen Institute Discussion Papers Creation-Date: 2004-02-27 Number: 04-024/3 Author-Name: Bernard M.S. van Praag Author-Workplace-Name: University of Amsterdam Author-Name: B.E. Baarsma Author-Workplace-Name: University of Amsterdam, and SEO Title: Using Happiness Surveys to value Intangibles; the Case of Airport Noise Abstract: 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.
This discussion paper resulted in a publication in The Economic Journal, 2005, 115(500), 224-246.
See also: (B.S. Frey, A. Stutzer (Eds)), Recent developments in the economics of happiness, 2012, pp. 365-387, Cheltenham: Edward Elgar. Classification-JEL: D62; D61; H23; L93; C25 Keywords: cost-benefit analysis; externalities; airport noise; satisfaction analysis; residual shadow costs File-Url: http://papers.tinbergen.nl/04024.pdf File-Format: application/pdf File-Size: 651224 bytes Handle: RePEc:tin:wpaper:20040024