We test competing models of how K-12 public school quality is capitalized into house prices. The value added model proposes that only locationally fixed district-specific factors such as inputs to schooling and the characteristics of student peers are capitalized into house prices. This model...

Communities differ in both the bundle of amenities offered to residents and the implicit price of these amenities. Thus, households are faced with a choice of which bundle to select when they select their residence. This choice implies households make tradeoffs among the amenities; that is, the...

School district consolidation is often purported to save taxpayers money. However, the current study shows that doubling the size of a school lowers student proficiency passage rates by 1%. In turn, this lowers the average house price by $400. This represents 30% of the total loss in house value...

The current study first examines the relationship between school district consolidation and student proficiency test scores, then links this result to the ensuing change in house prices. Doubling school enrollment is associated with a 1% drop in student proficiency test passage rates. This drop...

When two internally homogeneous communities decide to jointly provide a public service, residents of each community lose some control over the public service provision. The loss of control over public schooling provision contributes to a $2929 or 3.5 percent drop in constant-quality house value....

Deeds spell out the legal guarantees the seller makes about a house. Using a house price hedonic with a Bayesian spatial error model, we find deed types dramatically affect a house's sale price. Ten deed types command a discount and one commands a premium relative to warranty deeds. The 27%...

Previous studies have shown a link between local public school quality and labour productivity, which in turn affects economic growth in a region. But previous work has not investigated whether education is produced differently in different regions. The current study finds that although the...

We use house price hedonics to compare the extent that homeowners value traditional measures of school quality or the "value added" of schooling. Unlike other studies, we use spatial statistics as an identification strategy. Based on our study of 310 school districts and 77,000 house...