Valuing energy infrastructure externalities using wellbeing and hedonic price data: the case of wind turbines

The chapter discusses the use of wellbeing and hedonic price data for the valuation of infrastructure externalities using the example of renewable energy plants. The author draws on his own research in this field, which focuses on wind turbines, while making frequent references to related studies. In particular, he lays out data, methodological and conceptual issues surrounding the use of wellbeing data for valuation purposes and discuss the relationship to results from hedonic pricing studies. The author gives practical recommendations and an outlook concerning future developments, including novel opportunities arising from big data and machine learning.