COMPARISON OF HEDONIC PRICE AND CONTINGENT VALUATION METHODS IN URBAN TRAFFIC NOISE CONTEXT

In empirical economic literature, hedonic price method (HPM) has been used extensively to give a willingness-to-pay estimate (WTP) for noise reduction while contingent valuation method (CYM) has been used only recently. Unfortunately it has not usually been possible to compare the results. In this paper, the results of two studies will be reported: one applying HPM and the other CVM using the same population. The question is. Are these different methods giving WTP estimates of the same order of magnitude? The studies were carried out in an urban environment (Helsinki, Finland) where a cross section sample of 1,500 transactions of owner occupied apartments was used for the HPM study. As all apartment characteristics and prices were from one real estate agent, the quality of the data was very high. A sample of 700 of these apartments was selected for the CVM study (mail survey). With a response rate of 60% the CVM results can be compared with those from HPM. In the CVM survey some light is also given to the issue what traffic externality people are most bothered with (noise, dust, visual intrusion etc.). (A) For the covering abstract see ITRD E113232.

• Availability:
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• Corporate Authors:

  CONGRESS SECRETARIAT

  VOORWEG 105-A
  ZOETERMEER,   Netherlands  NG 2715
• Authors:
  • VAINIO, M
• Conference:
  • INTER-NOISE 2001 - ABSTRACTS FROM INTERNATIONAL CONGRESS AND EXHIBITION ON NOISE CONTROL ENGINEERING
  • Location: THE HAGUE , Netherlands
  • Date: 2001-8-27 to 2001-8-30
• Publication Date: 2001

Language

• English

Media Info

• Features: References;
• Pagination: p. 1865-70

Subject/Index Terms

• TRT Terms: Attitudes; Benefit cost analysis; Conferences; Noise; Traffic; Urban areas
• Geographic Terms: Finland
• ITRD Terms: 2267: Attitude (psychol); 8525: Conference; 226: Cost benefit analysis; 8035: Finland; 2492: Noise; 755: Traffic; 313: Urban area
• Subject Areas: Environment; Operations and Traffic Management;

Filing Info

• Accession Number: 00927042
• Record Type: Publication
• Source Agency: Transport Research Laboratory
• ISBN: 9-806554-1-4
• Files: ITRD
• Created Date: Jul 8 2002 12:00AM