The purpose of this research is to estimate the effects of highway development projects on the price of housing. Transportation development projects, highways in particular, improve a certain area's accessibility but also increase its levels of exposure to traffic intensity and noise pollution. These externalities are evaluated by homeowners and residents and are reflected in the price of housing. In this paper, we use several repeat sales model specifications, including difference-in-differences estimators, and control for neighborhood effects to examine housing price trends in the municipalities around two newly developed highways in the Netherlands. The results of the research demonstrate that changes in accessibility result in a significant positive effect on the price of housing in nearby municipalities, but that increased noise pollution and traffic intensity levels result in a decrease in prices. The findings also confirm that combining the total effects of all externalities, the effect of highway development on the price of housing is generally positive, and this effect is salient even before the project is completed due to public anticipation effects.
Many studies have addressed the justice of public land acquisition, but few studies have addressed the question of what landowners perceive as just. Individual perceptions drive an important part of the social and scientific debates on legitimate and just land acquisition. This article addresses this gap by studying landowners' and land purchasers' perceptions of just land acquisition. We did this by uncovering the prevailing discourse on just land acquisition and studying the values that shaped people's perceptions of just land acquisition. The results showed that perceptions of justice are based on the values of lawfulness, decentness and equality. These values were translated into different norms that resulted in expectations pertaining to just land acquisition. Insight into the different perceptions and the prevailing discourse of just land acquisition and their underlying values increases the understanding of land acquisition processes and land policy strategies. First, it becomes apparent that land acquisition has an essential element of injustice that cannot be avoided by a good process or a just compensation fee. Second, insight in different discourses provides valuable input for debates on just land acquisition. Third, such insight shows that money is not always a sufficient means of
Proximity to water is appreciated by households. Hedonic analyses that try to measure the value of this amenity are potentially biased by omitted variables because locations close to water may be selected by households with higher incomes who construct more luxury houses. Because it is difficult to observe all the relevant characteristics, the coefficient for proximity to water may be biased upwards. We circumvent this problem by exploiting a specific characteristic of the Dutch system of planned residential development: often a number of exactly similar houses are constructed close to each other. By comparing the values of such identical houses, we can measure the effect of proximity to water under almost ideal circumstances. Introduction of these fixed effects lowers the estimated impact of this amenity, thereby confirming the conjectured presence of an omitted variable bias.
Purpose This paper aims to analyse how Dutch Compulsory Purchase (CP) compensation is decided on and to explore to what extent the valuation of the CP compensation is assessed by professionals within a range of 10 per cent (higher or lower) difference. Design/methodology/approach The authors study CP compensation using the Dutch Legal Intelligence database, assessing every publicly available court decision and comparing the compensation that is offered in the voluntary negotiations and during the CP procedure in court. Findings The results show that there are many uncertainties in the valuation process of CP that lead to a broad range of valuation outcomes. In 94 legal CP cases from the Netherlands, the final offer of compensation in court was on average 56.7 per cent higher than the last compensation offer from the expropriator. The differences in valuation were related to several aspects including different systems of valuation and different interpretations of the CP legislation. Originality/value A central issue in the CP procedure is the amount of compensation that the landowner receives. There are few researchers who have studied how accurate CP compensation is appraised in practise. This is one of the first attempts internationally to empirically conduct an analysis of CP compensation values.
Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in AbstractProximity to water is appreciated by households. Hedonic analyses that try to measure the value of this amenity are potentially biased by omitted variables as locations close to the water may be selected by households with higher incomes who construct more luxury houses. Since it is difficult to observe all relevant characteristics, the coefficient for proximity to water may be biased upwards. We circumvent this problem by exploiting a specific characteristic of the Dutch system of planned residential development: often a number of identical houses are constructed close to each other. By comparing the values of such identical houses, we can measure the effect of proximity to water under almost ideal circumstances. The results show a significant impact of this amenity, but of a smaller magnitude than was suggested by many earlier studies, thereby confirming the conjectured presence of omitted variable bias.
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