Living on a Noisy and Dusty Street: Implications for Environmental Evaluation

This paper contributes to the literature on the hedonic pricing method in three different ways: i) the experimental context is new and typical of many urban settings, i.e. comparison between the price of houses located on a noisy and dusty street and that of houses located on a quiet and clean street in the same neighborhood; ii) this experimental context allows us, in a sense, to combine for the first time two popular valuation methods (standard hedonic pricing and repeat-sale analysis); and iii) in contrast with previous studies that focused on one aspect of environmental quality, we investigate the impact of two environmental attributes on houses' price, namely noise and air pollution (dust), which have been measured specifically for this study. Our results show that neither of these environmental attributes has an impact on the houses' price.
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