Quasi-experimental evidence on the effect of traffic externalities on housing prices

This paper studies the effects on house prices of traffic nuisance on local streets. As source of exogenous variation in traffic nuisance we use the opening of a new state highway N14 in the Netherlands. This transport innovation altered the traffic density on the adjacent streets for some households, but left others unaffected. Controlling for spatial and house heterogeneity, we find that doubling of traffic density reduces housing prices with about 2%, what implies an upper value of traffic noise discount of about 0.5% per decibel. Our results indicate further that traffic nuisance discounts are likely to be misestimated in cross-sectional studies because nuisance tends to be correlated with omitted neighbourhood and housing amenities.

Estimating the HARA Land Use Model for Housing Planning based on Hedonic Price Analysis

HARA is a land-use model that uses a search algorithm to find the optimal spatial allocation of new housing demands in an urban plan area. In the model, the plan area is represented as a grid of cells. A core element of the algorithm is a function that is used to evaluate the value of a cell for each possible land-use given its location. The value function is specified as the net value of a (housing) development given the land costs, the construction costs, and the market value of the development at a location. Specified in that way, the solution generated represents an optimum as well as a market equilibrium (maximum net value for developers). A critical prerequisite for this is, however, that the value-function is specified such that it accurately represents buyers’ willingness-to-pay for dwelling and location characteristics in the housing market. In this paper, we show how the value function can be estimated using hedonic price analysis. The analysis is carried out based on a large housing transaction data set focusing on two medium-sized cities in The Netherlands combined with detailed land-use data of these areas. Although a full set of land-use types is taken into account, special attention is paid to the classification of urban green space, given the purpose to analyze scenarios for developing urban green space. The results indicate that land-use effects on housing prices differ considerably between housing types as well as city. We conclude therefore that it is important in the estimation of land-use models to take the specific local conditions of housing markets and housing segments into account

How Polarization and Political Instability affect Learning through Experimentation

In a multiperiod setting, decision-makers can learn about the consequences of their decisions through experimentation. In this paper we examine how in a two-party system polarization and political instability affect learning through experimentation. We distinguish two cases: the decision to be made is not salient and does not affect the outcome of the following elections (exogenous elections) and the decision is salient and the election outcome depends on it (endogenous elections). We show that while the possibility of learning increases activism, the existence of political instability distorts learning. Furthermore, in contrast to the existing literature, we demonstrate that, when elections are exogenous, polarization between political parties does not always decrease active learning. In the case with endogenous elections we find that electoral concerns may induce candidates not to experiment, even if the majority of voters prefers activism

The Tax Treatment of Interest Expenditures of Multinational Enterprises

This paper analyses the national tax treatment of interest expenditures of multinational enterprises in a non- cooperative world. It is shown that the international tax system generally leads to distortions in the capital decisions of multinational firms. In contrast to the existing literature on the tax treatment of the expenditures of multinationals, it is found that the form and size of distortions can differ per country depending on the stake a country has in the multinational. Furthermore, internationalisation of the firm's operations and ownership is demonstrated to lead to less generous interest deduction rules of individual countries and in the limit may result in no deduction allowance at all

Do highway widenings reduce congestion?

Highway construction occurs nowadays mainly through widening of existing roads rather than building new roads. This article documents that highway widenings considerably reduce congestion in the short run, defined here as 6 years. Using longitudinal microdata from highway detector loops in the Netherlands, we find substantial travel time savings. These savings occur despite strong increases in traffic flow. The welfare benefits in the short run already cover 40% of the widenings’ investment costs. Our article contributes to an explanation why countries invest in roadworks even when the fundamental law of congestion predicts that travel savings disappear in the long run

Grootschalige evaluatie van de effecten van verduurzaming:inzicht in de verschillen tussen de bewoners en hun gedrag

Woningcorporaties moeten meer dan een miljoen woningen energiezuinig en duurzaam ma­ken. Correcte informatie op maat over de effecten van renovaties voor de huurders is hierbij van groot belang. We voerden een grootschalige evaluatie uit van isolatie-upgrades in de so­ciale huursector en vonden grote verschillen in de effecten tussen de huurderssegmenten. We laten zien hoe deze inzichten worden vertaald in betere communicatie met de huurders en een interactieve digitale optimalisatietool om renovaties te prioriteren

Happy Senior Living: 65+ Best Living Concepts

In developed countries, the share of the elderly (65+) is growing quickly. In the Netherlands it might reach 25 to 30% of the population by 2040 (see Figure 1). We design best living concepts for the elderly, based on a research in their residential preferences. Our novel methodology combines insights from social sciences and architecture. A stated choice experiment retrieves the willingness-to-pay of the elderly for a set of relevant attributes of the dwelling, building and location. The attributes with the highest valuation are used as an input for a flexible architectural design. &nbsp

Happy senior living 65+ best living concepts

In developed countries, the share of the elderly (65+) is growing quickly. In the Netherlands it might reach 25 to 30% of the population by 2040 (see Figure 1). We design best living concepts for the elderly, based on a research in their residential preferences. Our novel methodology combines insights from social sciences and architecture. A stated choice experiment retrieves the willingness-to-pay of the elderly for a set of relevant attributes of the dwelling, building and location. The attributes with the highest valuation are used as an input for a flexible architectural design. &nbsp

How do urban parks, neighborhood open spaces, and private gardens relate to individuals’ subjective well-being:Results of a structural equation model

As urban areas become more densely populated worldwide, the allocation of limited urban green infrastructure to promote well-being among users is becoming increasingly challenging. This study aims to understand the relationships of three types of urban green infrastructure (urban parks, neighborhood green open spaces and private gardens) with subjective well-being (SWB). We construct a structural equation model to examine these relationships in an integrated fashion. We consider both direct and indirect effects of green spaces on SWB. Data were collected through an online questionnaire involving a sample of 322 individuals in the Netherlands. Results indicate that the direct relationship between neighborhood green satisfaction and SWB is positive and stronger than the relationship between satisfaction with urban parks and SWB. Private garden size has an indirect positive effect on SWB mediated by neighborhood green satisfaction. Interestingly, an individual with higher satisfaction with green tends to have higher SWB independently of the frequency of using the green space. Overall, our method and results bring new insights to optimize urban green space planning to enhance users’ SWB.</p