PT - JOURNAL ARTICLE AU - Cathrine Ulla Jensen AU - Toke Emil Panduro AU - Thomas Hedemark Lundhede TI - The Vindication of Don Quixote: The Impact of Noise and Visual Pollution from Wind Turbines AID - 10.3368/le.90.4.668 DP - 2014 Nov 01 TA - Land Economics PG - 668--682 VI - 90 IP - 4 4099 - http://le.uwpress.org/content/90/4/668.short 4100 - http://le.uwpress.org/content/90/4/668.full SO - Land Econ2014 Nov 01; 90 AB - In this article we quantify the marginal external effects of nearby land-based wind turbines on property prices. We succeed in separating the effect of noise and visual pollution from wind turbines. This is achieved by using a dataset consisting of 12,640 traded residential properties located within 2,500 meters of a turbine sold in the period 2000–2011. Our results show that wind turbines have a significant negative impact on the price schedule of neighboring residential properties. Visual pollution reduces the residential sales price by up to about 3%, while noise pollution reduces the price between 3% and 7%. (JEL Q18, Q38)