The Monetary Valuation of Environmental Externalities through the Analysis of Real Estate Prices

This paper proposes a theoretical model of evaluation of environmental externalities based on the analysis of real estate prices. This issue is included in regional planning policies which include activities and interventions that produce economic and non-economic effects. The monetary assessment of...

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Bibliographic Details
Published in:Sustainability 2017, Vol.9 (2), p.229-229
Main Authors: Del Giudice, Vincenzo, De Paola, Pierfrancesco, Manganelli, Benedetto, Forte, Fabiana
Format: Article
Language:English
Subjects:
Econometrics
Economic forecasting
Economic impact
Economics
Environmental assessment
Externality
Housing prices
Impact analysis
Intervention
Market prices
Noise pollution
Policy and planning
Real estate
Regional development
Regional planning
Sustainability
Valuation
Variables
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Summary:This paper proposes a theoretical model of evaluation of environmental externalities based on the analysis of real estate prices. This issue is included in regional planning policies which include activities and interventions that produce economic and non-economic effects. The monetary assessment of economic and non-economic effects can be expressed as a forecast (ex ante) and/or following (ex post) such activities and interventions. The assessment of the economic impact, with particular reference to interventions and infrastructure work, is widely based on procedures which make use of market prices. The proposed model was applied to an actual case, considering the effects of noise pollution, produced by traffic from the Naples Beltway, on residential property.
ISSN:2071-1050
2071-1050
DOI:10.3390/su9020229