We reexamine the relationship between school quality and house prices and find it to be nonlinear. Unlike most studies … in the literature, we find that the price premium parents must pay to buy a house associated with a better school … increases as school quality increases. This is true even after controlling for neighborhood characteristics, such as the racial …

public school quality. In order to estimate the supply of public school quality, the price of a unit of public schooling must … be found. Invoking the theory of implicit markets, the price of a unit of public school quality is derived from a series … of housing market hedonic estimations, in which house price is regressed as a function of school quality. The implicit …

public school quality. In order to estimate the supply of public school quality, the price of a unit of public schooling must … be found. Invoking the theory of implicit markets, the price of a unit of public school quality is derived from a series … of housing market hedonic estimations, in which house price is regressed as a function of school quality. The implicit …