TY - JOUR T1 - Valuation of Noise Pollution and Abatement Policy: Evidence from the Minneapolis-St. Paul International Airport JF - Land Economics JO - Land Econ DO - 10.3368/wple.97.1.073119-0107R SP - 073119-0107R AU - Felix L. Friedt AU - Jeffrey P. Cohen Y1 - 2021/08/19 UR - http://le.uwpress.org/content/early/2021/08/18/wple.97.1.073119-0107R.abstract N2 - Aircraft noise pollution has adverse physical and mental health effects that are capitalized in the affected home values. We contribute to the literature estimating these noise discounts by our novel identification strategy that analyzes the “treatment effect” of two local government subsidized soundproofing initiatives near the Minneapolis-Saint Paul International Airport. Combining a repeat-sales sample with data on aircraft noise pollution (1990–2014), we find a causal noise discount of around $25,000 per sale of noise-affected, but abatement-ineligible, properties, whereas abatement-eligible homes experience a negligible effect post soundproofing indicating a return on abatement investments as a high as 40% in Minneapolis. ER -