Observable measures of public school quality provide noisy signals of underlying quality to parents. Accordingly, this paper examines the house price effects of school quality and quality uncertainty. Residential bid rent theory under this type of uncertainty shows that greater school quality...

Our results show that high-income families place significantly higher value on academic achievement than low-income families. High-income families are also more likely to penalize house price for non-desirable non-academic school quality. This paper uses quantile regression to examine the...