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%...

When houses are sold, they come with a deed attached that spells out the legal guarantees the seller makes about the house. The deed sometimes contains guarantees of good title, freedom from encumbrances, and protection from competing claims against the property; other deeds make no such...

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...

Public good provision is an important topic. I calculate theimplicit price of school quality from the housing marketusing a hedonic approach, then I estimate the demand andsupply of school quality. This is the first supply ofeducation quality estimation. I find a price elasticity ofsupply of...

Local public schools must satisfy the electorate to pass tax levies and re-elect school board members. Central cityschools seem to pursue these goals differently than suburban or non-metropolitan schools. While central city schools are associated with low standardized test scores, they also are...

Using Ohio metropolitan school districts, I test the factorsthat cause and inhibit political jurisdictions from jointlyproviding public services. The Poirier bivariate probitanalysis suggests that economies of scale factors are moreimportant than socio-demographic factors in determiningwhether...

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....

This study explores which measures of public school quality the housing market values. Both a traditional hedonic house price estimation and a hedonic corrected for spatial autocorrelation are used. Proficiency tests, expenditure per pupil and the pupil/teacher ratio are consistently capitalized...

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...

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...