PT  - JOURNAL ARTICLE
AU  - Ermanno Affuso
AU  - Steven B. Caudill
AU  - Franklin G. Mixon, Jr.
AU  - Kevin W. Starnes
TI  - Is Airport Proximity an Amenity or Disamenity? An Empirical Investigation Based on House Prices
AID  - 10.3368/le.95.3.391
DP  - 2019 Aug 01
TA  - Land Economics
PG  - 391--408
VI  - 95
IP  - 3
4099  - http://le.uwpress.org/content/95/3/391.short
4100  - http://le.uwpress.org/content/95/3/391.full
SO  - Land Econ2019 Aug 01; 95
AB  - We use a spatial autoregressive model with directional effects to assess the impact of airport noise on housing values in Memphis, Tennessee, home of the busiest cargo airport in the United States. Our model is combined with a spatial dataset that contains information on noise levels, property characteristics, and neighborhood characteristics for 9,606 properties sold between 2011 and 2016. Results of our research suggest that the Memphis International Airport is perceived as a disamenity, with areas of the city affected to different degrees, with a potential average external cost of $4,795 per decibel of noise per household. (JEL C31, D62)