Thomas Bue Bjørner () and Thomas Lundhede ()
Thomas Bue Bjørner: AKF, Amternes og Kommunernes Forskningsinstitut, Postal: København V, Nyropsgade 37
Thomas Lundhede: AKF, Amternes og Kommunernes Forskningsinstitut, Postal: København V, Nyropsgade 37
Abstract: In the article results from a study on the monetary valuation of benefits from traffic noise reduction in Copenhagen are presented and compared to the »official« value of noise reduction currently applied by the Danish Road Directorate. The valua - tion is carried out using both hedonic pricing and contingent valuation methods. The results show that the contingent valuation method yields a value that is lower than the hedonic pricing method. In any case, the results suggest that the official value of noise reduction severely exaggerates the social benefits of noise reduction, especially when noise levels are relatively high (above 65 dB). From a social welfare point of view this may have led to overinvestment in noise-reducing projects and may have led to transport projects being wrongly rejected, where noise would have increased, but where there would have been other social benefits, such as time savings.
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