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

École des hautes études commerciales (Montréal, Québec). Institut d'économie appliquéePaul LanoieCIRANOTagreed BoulesRobert Gagné

出版	CIRANO, 1997
URL	http://books.google.com.hk/books?id=5yo5NAEACAAJ&hl=&source=gbs_api

註釋

One of the methods used to evaluate the benefits of improved environmental quality or the costs of environmental degradation is the hedonic pricing method, in which the value for the environment is deducted from price differentials (for example, of houses with different environmental attributes). This paper contributes to the literature on the hedonic pricing method in three ways. First, it examines the price differential between houses located on a noisy and dusty street and houses located on a quiet and clean street in the same neighbourhood in Montreal. Second, the experimental context allows to combine for the first time two valuation methods: hedonic pricing and repeat-sale analysis. Third, the impact of two environmental attributes on house price is investigated: noise and air pollution (dust), measured in the field specifically for this study. The paper presents an empirical pricing model, describes the data collected, and discusses the empirical results indicating the degree of impact of the environmental attributes on the house prices.