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Sustainability 2017, 9(2), 229; doi:10.3390/su9020229

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

1
University of Naples Federico II, P.le V. Tecchio 80, 80125 Naples, Italy
2
University of Basilicata, Viale dell’Ateneo Lucano 10, 85100 Potenza, Italy
3
Second University of Naples, Via San Lorenzo 31, 81031 Aversa, Italy
*
Author to whom correspondence should be addressed.
Academic Editors: Federico Martellozzo and Beniamino Murgante
Received: 17 October 2016 / Revised: 13 January 2017 / Accepted: 25 January 2017 / Published: 8 February 2017
View Full-Text   |   Download PDF [1157 KB, uploaded 8 February 2017]   |  

Abstract

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. View Full-Text
Keywords: environmental externalities; real estate market; econometric models; evaluation under risk and uncertainty; noise pollution environmental externalities; real estate market; econometric models; evaluation under risk and uncertainty; noise pollution
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Del Giudice, V.; De Paola, P.; Manganelli, B.; Forte, F. The Monetary Valuation of Environmental Externalities through the Analysis of Real Estate Prices. Sustainability 2017, 9, 229.

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