This paper deals with valuation of noise originating from road and rail transport. Following an
introduction to the topic and a summary of previous studies, a contingent valuation survey on
willingness to accept a compensation for sustained level of traffic noise is discussed in detail. The
novelty of the survey is in the employment of a willingness-to-accept format of CVM in order to
minimize the rate of protest answers witnessed in a number of earlier CVM studies. The results follow
the same and expected pattern already seen in many WTP studies although the estimated values are in
the upper range of previous willingness-to-pay estimates