Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/214626
Authors: 
Ahlfeldt, Gabriel M.
Nitsch, Volker
Wendland, Nicolai
Year of Publication: 
2019
Series/Report no.: 
Darmstadt Discussion Papers in Economics No. 236
Abstract: 
For a complete cost-benefit analysis of durable infrastructures, it is important to understand how the value of non-market goods such as transit time and environmental quality changes as incomes rise in the long-run. We use difference-in-differences and spatial differencing to estimate the land price capitalization effects of metro rail in Berlin, Germany today and a century ago. Over this period, the negative implicit hedonic price of rail noise tripled. Our results imply income elasticities of the value of noise reduction and transport access of 2.2 and 1.4, substantially exceeding cross-sectional contingent valuation estimates.
Subjects: 
Accessibility
spatial differencing
noise
difference-in-differences
income elasticity
land price
JEL: 
R12
R14
R41
N73
N74
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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