Van Praag, B. M., &Baarsma, B. E. (2004). Using happiness surveys to value intangibles: The case of airport noise. The Economic Journal, 115(500), 224-246.
We assess the monetary value of the noise damage, caused by aircraft noise nuisance around Amsterdam Airport, as the sum of hedonic house price differentials and a residual cost component. The residual costs are assessed from a survey, including an ordinal life satisfaction scale, on which individual respondents have scored. The derived compensation scheme depends on, among other things, the objective noise level, income, the ...