MODELING THE EFFECTS OF AIRPORT NOISE ON RESIDENTIAL HOUSING MARKETS - A CASE-STUDY OF WINNIPEG-INTERNATIONAL-AIRPORT

This hedonic price study of the effect of airport noise on property prices uncovers relationships with the number of events that affect a location, and the mean and variance of the loudness of the events. The results suggest that hedonic price models that include cumulative energy noise measures, such as the Noise Exposure Forecast, do not perform as well as models that use the number and loudness of aircraft noise incidents. Furthermore. Box-Cox estimates of the empirical price function reject the usual specifications found in previous literature.