Resumen

CORREA RESTREPO, Francisco Javier; OSORIO MUNERA, Juan David  y  PATINO VALENCIA, Bernardo Andrés. ECONOMIC VALUATION OF NOISE REDUCTION DUE TO VEHICLE TRAFFIC: AN APPLICATION FOR MEDELLIN (COLOMBIA). Semest. Econ. [online]. 2015, vol.18, n.37, pp.11-50. ISSN 0120-6346.

The objective of this paper is to determine the economic benefits obtained by households in residential zones in the city of Medellin (Colombia) by the reduction of noise and vehicle traffic. For this purpose, a contingence valuation method was used combined with information regarding the perception of the acoustic quality at the different households. This scope led to the estimation of the expected willingness to pay for the reduction of one decibel in the noise levels that households are exposed to. Results show that if this program is applied in the city through a policy or project that is able to achieve a generalized reduction of 5 decibels in the noise generated by vehicle traffic, the aggregated economic benefits can reach up to 397 million Colombian pesos per year. The study concludes that these results generate important knowledge that can be used for more effective decision-making within the regional policy framework in respect with noise reduction management due to vehicle traffic.

Palabras clave : Environmental economy; noise; environmental externality; well-being; environmental policy; Colombia.

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