![]() | |
This centre is a member of The LSE Research Laboratory [RLAB]: CASE | CVER | CEP | SERC | STICERD | Cookies? |
| ||||
![]() | ![]() | ![]() | ![]() | ![]() |
![]() |
Abstract for:
Gabriel M.
Ahlfeldt,
Wolfgang
Maennig,
July 2011
Paper No' SERCDP0085: | Full paper ![]() Save Reference as: ![]() ![]() Keywords: noise; rents, referendum, real estate prices, airports, Berlin JEL Classification: D61; D62; H41; H71; L83; I18; R41; R58 Is hard copy/paper copy available? YES - Paper Copy Still In Print. This Paper is published under the following series: SERC Discussion Papers Share this page: ![]() ![]() ![]() Abstract:This study evaluates the cost of aircraft noise in Berlin, Germany, on the background of the home-voter hypothesis, which has received increasing attention in the literature. First, we use exogenous variation in airport noise provided by a series of effective and announced closures and extensions of airports to identify adjustments in the property market. Second, we integrate the results of the property market analysis into a spatial analysis of a direct referendum on an airport closure. Our results indicate that aircraft noise is costly. We observe significant positive market adjustments to reductions in aircraft noise. Consistently, voters supported the closure of a city airport where aircraft noise was present and positive price adjustments from a past announcement had occurred. Homeowners had significantly stronger preferences than renters, which is in line with the home-voter hypothesis. We conclude results from direct referenda on public initiatives should be interpreted with care when it comes to evaluating (expected) environmental effects. |
![]() |
||
Copyright © RLAB & LSE 2003 - 2021 | LSE, Houghton Street, London WC2A 2AE | Contact: RLAB | Site updated 23 January 2021 |