TRAFFIC EXTERNALITIES AND SINGLE-FAMILY HOUSE PRICES*

ABSTRACT. This study is the first to lend empirical support to the common belief that traffic intensity affects property values. Using a standard hedonic pricing model, this paper investigates the price effects on housing of traffic within a neighborhood. Results using data on single-family housing transactions for two different locations in a medium-sized city show a substantial negative price effect of traffic externalities. The magnitude of the effect is shown to be location specific.     

Framed for Compromise? The Role of Bill Framing in State Legislative Behavior on Natural Gas Policy

State legislative decision making on natural gas policy has become a balancing act, as legislators are forced to grapple with tensions between economically beneficial policies and environmental impacts. Despite increased public attention to the benefits and costs related to hydraulic fracturing, there has been little scholarly attention paid to how policy framing affects legislator behavior on this issue. We analyze recorded votes on bills relating to natural gas policy in Wyoming, Colorado, and New Mexico between 1999 and 2008; a time period spanning the recent boom. Using a novel database of bill frames, we create a ratio measure that accounts for the proportion of environmental to economic arguments within each piece of legislation. We find status quo–challenging, anti‐development policies can receive bipartisan support, as long as economic frames balance or are greater than environmental frames. Framing natural gas as a win‐win scenario where economic benefit and environmental protection can be achieved simultaneously is an effective legislative strategy. Using the case of natural gas policy, this study demonstrates bill framing substantively affects state legislator vote choice and implies bipartisan compromise is possible given the right balance of frames.