The costs of traffic noise are an important factor for researchers as well as policy makers to consider in order to further
and justify action plans to reduce noise in cities (Barreiro et al., 2005), as well as in the vicinity of airports or railways
(Lawton and Fujiwara, 2016; Wolfe et al., 2014), or inclusive in natural areas (Iglesias Merchan et al., 2014). Navrud
(2002) conducted a review that indicates how relevant this topic is. His paper is considered state-of-the-art when it comes
to evaluating the financial impact of noise in developed countries. Correa et al. (2011) described the costs of noise in other
Latin American countries, showing the results of studies in Chile, Argentina, and Colombia.