To evaluate the causal impact of noise exposure on housing prices, we exploit a sudden and massive reduction in flight traffic that occurred with the onset of the COVID-19 measures in Germany. Comparing locations differently exposed to pre-pandemic noise with a difference-in-difference approach,...

To evaluate the causal impact of noise exposure on housing prices, we exploit a sudden and massive reduction in flight traffic that occurred with the onset of the Covid-19 measures in Germany. Comparing locations differently exposed to pre-pandemic noise with a difference-in-difference approach,...

This paper explores the sorting process in response to differing levels of aviation noise exposure in a housing market. Spatiotemporal Hedonic Pricing (HP) and Stated Choice (SC) results reflect nonlinearities and stigma. The HP models reveal nonlinear noise depreciation increasing from 0.40 to...

We introduce a software generator for a class of colored (self-correlated) and non-Gaussian noise, whose statistics and spectrum depend on two param- eters, q and τ. Inspired by Tsallis’ nonextensive formulation of statistical physics, the so-called q-distribution is a handy source of...

In 2017, the German federal government passed the Railroad Noise Protection Act to reduce the noise emitted by freight trains. This paper evaluates the effects of this law on house prices by using regional variation comparing affected homes close to train tracks and homes in greater distance...

Mark Bell’s article (2016) is a welcome contribution to the unavoidable task of evaluating a research program that exhibits the problems he identifies: the failure of most quantitative studies to offer strong explanations for proliferation patterns, and their inability to predict out-of-sample...

Intercity air transportation has grown rapidly in recent decades and creates significant noise pollution that affects health. Previous research quantifies the losses that are capitalized into home values. Much research relies heavily on spatially restrictive noise contour plots to identify the...

Using individual house sale data and the release of an airport noise contour map, the relationship between airport noise contours and house prices in Melbourne is studied. House prices are not related to noise contours but annual aircraft movements and distance from the runway are both...

This paper explores the impact of airport noise regulation on airline service quality and airfares. It also characterizes the socially optimal stringency of noise limits, taking both noise damage and the various costs borne by airlines and their passengers into account. The analysis also...

Hominids are unpredictable decision makers. Advent of cutting-edge knowledge and digitalization has altered business milieu where somatic bales are augmented intensely with non-physical properties. Human choice behaviour exhibits spectrum of confounding incompatibilities. Vulnerabilities,...

Orcinus Orca is the world's largest predator, and simultaneously a significant tourist asset and cultural icon for much of the Pacific Northwest. In the past two decades, the Southern Resident Killer whale (SRKW) population has declined by more than 25 percent, putting them at risk of...

High resolution Ultra High Frequency (UHF) quotes and trades are examined to detect patterns which do not correspond to plausible market activity as in Brownlees and Gallo (2006). Non-microstructure noise is identified as a process. Methods of treatment are evaluated. A resultant paradigm of...

Urban noise depends on several factors from which Traffic Noise is the most important. City centers and main access roads are usually over exposed that is, average day-evening-night noise level [LDEN] and/or rest expose level [LNIGHT] surpasses a threshold of healthy exposure. About 35M...

Expectations affect economic decisions, and therefore inaccurate expectations are costly. Expectations can be wrong in ways that are systematic (bias) or unsystematic (noise). We provide a general method for quantifying the noise component. The method is based on the insight that theoretical...

Exploiting recent concentration of flight patterns under a new Federal Aviation Administration policy (called NextGen), we examine the impact of exposure to excessive noise levels on birth outcomes. Using birth records that include mothers' home addresses to measure airport proximity, we find...

The airport Berlin-Brandenburg that has been built for several years now will take over all flights from the existing airports in Berlin. Four weeks before the expected opening of the airport its was delayed by several months. This delay was exogeneous for (potential) residents in the...

Berlin-Brandenburg airport (BER) has become well-known far beyond German borders due to substantial mis-planning and heavy delays in opening. Planned to open in March 2012 and to take over all air-transport services from Germany's capital city, with the other airports expected to close,...

Exploiting recent concentration of flight patterns under a new Federal Aviation Administration policy (called NextGen), we examine the impact of exposure to excessive noise levels on birth outcomes. Using birth records that include mothers’ home addresses to measure airport proximity, we find...

The closing of a busy airport has large effects on noise and economic activity. We examine the effects of Stapleton airport's closing on nearby, Denver housing markets. We find evidence of immediate anticipatory effects on prices upon announcement of the closing, but no price changes at closing...

We examine how changes in the geographic concentrations of Hispanic and African-American populations are correlated with changes in probabilities of airport noise, in Atlanta, during 2003 and 2012. We estimate ordered probit and locally weighted ordered probit regressions for three different...

Noise pollution has been shown to impact physical and mental health, and changes in air traffic over densely populated residential areas is an important contributor to this health risk. Albeit significant endogeneity concerns, hedonic models of house sale prices are typically used to quantify...

It is obvious that we are living in a noise-polluted environment. This pollution has been linked to a number of health related ailments such as depression, anger, weak concentration and hearing defects. Growing global population, increase in technological advancement and some human activities...

Incorporating spatial econometric tools in Hedonic Pricing (HP) models for environmental valuation has become the standard approach in the literature. The effect of house prices on other house prices is taken into account and usually measured by distance or contiguity in spatial weight matrices....

This study shows that fitting errors of equity-option-implied volatility surfaces are informative about intermediary frictions. For each stock and day, we quantify the goodness of fit between the observed implied volatilities of all available options and the corresponding estimates from...

Using Lorenz-type curves, means tests, ordinary least squares, and locally weighted regressions (LWR), we examine the relative burdens of whites, blacks, and Hispanics in Georgia from road and air traffic noise. We find that whites bear less noise than either blacks or Hispanics and that blacks...

The relocation of Athens Airport provided a rare experimental context in which residents experienced significant changes in noise levels due to the introduction or removal of aircraft noise. This paper reports the results from surveys around both airport locations, using stated choice...

Noise pollution poses a high risk to human health. This briefing presents updated estimates of the numbers of people exposed to environmental noise pollution in Europe. It also provides a new summary of the measures being used in Member States to manage noise. Road traffic remains by far the...

Whether lower stock price synchronicity reflects information or noise does not have a conclusive answer yet. From the perspective of analyst following in China, our empirical study reveals that, the stock price synchronicity which star analysts following is lower than that of non-star analysts,...

This report by the European Environment Agency (EEA) presents a first spatial assessment of those areas in Europe that are potentially unaffected by noise pollution brought about by human activity. The basis for the report are data reported to the EEA by its member and cooperating countries....

Many transport technologies cause a gnot]in]my] backyard (NIMBY) reaction of locals in that they often oppose the nearby location of necessary infrastructure despite benefiting from greater mobility. We employ quasi] experimental research methods to disentangle the offsetting noise and...

This article reports a complete two stage hedonic analysis for road noise. For the estimation of the hedonic price function I develop a spatial research design which simultaneously reduces the risk of omitted variable bias and the risk of measurement error in the noise measure. The preference...

Using a unique cross sectional dataset of property values with manually collected noise measurements in Memphis, Tennessee, hedonic regression is used to estimate the impact of train noise pollution on commercial and residential property values. Results show a residential property being located...