Valuing Noise Impacts Using Hedonic Pricing and Stated Preference Methods: What Does the Evidence Tell Us?

Estimates are presented from both Australia and overseas of the value of traffic noise reductions. These estimates were sourced from both hedonic price and stated preference applications. A similar range of estimates was found using both techniques. However, the number of studies available is relatively limited given the importance of noise impacts within the economy, and there is substantial variability in the estimates generated using both techniques. The variability appears to be primarily an artefact of methodological differences rather than differences in cultural perspectives regarding the cost of noise.