This paper reviews the problem of environmental externalities in air transportation. Several types of externalities in aviation are discussed and their empirical relevance is assessed. Next, it is argued that economic evaluation of environmental effects is essential in order to arrive at an...

Placing a monetary value on aircraft noise is necessary in order to assess the social cost inflicted by aviation. This need has given rise to a considerable amount of hedonic price (HP) studies on the relation between property values and aircraft noise, both published and unpublished. The...