MONETARY VALUATION OF ROAD TRAFFIC NOISE IN MUMBAIRANI TYAGI AND NEELIMA NAIK
Noise, which continues to be one of the main environmental problems facing India, is gaining its importance as a result of the rise in noise levels that comes about with increasing economic activity. Monetary valuation of noise is also necessary in order to determine optimal environmental taxes on road traffic, rail traffic and air traffic. The main objective of this study is to study different social and economic factors affecting peoples willingness to pay and their attitudes towards noise reduction in Mumbai city. This study estimates the willingness-to-pay value for a sample population in Mumbai. It also shows that marital status, education, income level exert considerable influences on the individuals willingness-to-pay values. However, age, sex and ownership of house were found not to exert any significant influence on individuals willingnesto- pay values.
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