A unified framework for measuring preferences for schools and neighborhoods:
This paper develops a comprehensive framework for estimating household preferences for school and neighborhood attributes in the presence of sorting. It embeds a boundary discontinuity design in a heterogeneous model of residential choice to address the endogeneity of school and neighborhood attribu...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2007
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
13236 |
| Online-Zugang: | kostenfrei |
| Zusammenfassung: | This paper develops a comprehensive framework for estimating household preferences for school and neighborhood attributes in the presence of sorting. It embeds a boundary discontinuity design in a heterogeneous model of residential choice to address the endogeneity of school and neighborhood attributes. The model is estimated using restricted-access Census data from a large metropolitan area, yielding a number of new results. First, households are willing to pay less than one percent more in house prices -- substantially lower than previous estimates -- when the average performance of the local school increases by five percent. Second, much of the apparent willingness to pay for more educated and wealthier neighbors is explained by the correlation of these sociodemographic measures with unobserved neighborhood quality. Third, neighborhood race is not capitalized directly into housing prices; instead, the negative correlation of neighborhood race and housing prices is due entirely to the fact that blacks live in unobservably lower quality neighborhoods. Finally, there is considerable heterogeneity in preferences for schools and neighbors: in particular, we find that households prefer to self-segregate on the basis of both race and education. |
| Beschreibung: | Literaturverz. S. 30 - 32 |
| Beschreibung: | 35, [14] S. graph. Darst. 22 cm |
Internformat
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| 100 | 1 | |a Bayer, Patrick J. |d 1972- |e Verfasser |0 (DE-588)129714313 |4 aut | |
| 245 | 1 | 0 | |a A unified framework for measuring preferences for schools and neighborhoods |c Patrick Bayer ; Fernando Ferreira ; Robert McMillan |
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| 490 | 1 | |a Working paper series / National Bureau of Economic Research |v 13236 | |
| 500 | |a Literaturverz. S. 30 - 32 | ||
| 520 | 8 | |a This paper develops a comprehensive framework for estimating household preferences for school and neighborhood attributes in the presence of sorting. It embeds a boundary discontinuity design in a heterogeneous model of residential choice to address the endogeneity of school and neighborhood attributes. The model is estimated using restricted-access Census data from a large metropolitan area, yielding a number of new results. First, households are willing to pay less than one percent more in house prices -- substantially lower than previous estimates -- when the average performance of the local school increases by five percent. Second, much of the apparent willingness to pay for more educated and wealthier neighbors is explained by the correlation of these sociodemographic measures with unobserved neighborhood quality. Third, neighborhood race is not capitalized directly into housing prices; instead, the negative correlation of neighborhood race and housing prices is due entirely to the fact that blacks live in unobservably lower quality neighborhoods. Finally, there is considerable heterogeneity in preferences for schools and neighbors: in particular, we find that households prefer to self-segregate on the basis of both race and education. | |
| 700 | 1 | |a Ferreira, Fernando Vendramel |e Verfasser |0 (DE-588)133485366 |4 aut | |
| 700 | 1 | |a McMillan, Robert |e Verfasser |0 (DE-588)12863619X |4 aut | |
| 776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |
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| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:31Z |
| indexdate | 2024-07-09T21:25:14Z |
| institution | BVB |
| language | English |
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| spelling | Bayer, Patrick J. 1972- Verfasser (DE-588)129714313 aut A unified framework for measuring preferences for schools and neighborhoods Patrick Bayer ; Fernando Ferreira ; Robert McMillan Cambridge, Mass. National Bureau of Economic Research 2007 35, [14] S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 13236 Literaturverz. S. 30 - 32 This paper develops a comprehensive framework for estimating household preferences for school and neighborhood attributes in the presence of sorting. It embeds a boundary discontinuity design in a heterogeneous model of residential choice to address the endogeneity of school and neighborhood attributes. The model is estimated using restricted-access Census data from a large metropolitan area, yielding a number of new results. First, households are willing to pay less than one percent more in house prices -- substantially lower than previous estimates -- when the average performance of the local school increases by five percent. Second, much of the apparent willingness to pay for more educated and wealthier neighbors is explained by the correlation of these sociodemographic measures with unobserved neighborhood quality. Third, neighborhood race is not capitalized directly into housing prices; instead, the negative correlation of neighborhood race and housing prices is due entirely to the fact that blacks live in unobservably lower quality neighborhoods. Finally, there is considerable heterogeneity in preferences for schools and neighbors: in particular, we find that households prefer to self-segregate on the basis of both race and education. Ferreira, Fernando Vendramel Verfasser (DE-588)133485366 aut McMillan, Robert Verfasser (DE-588)12863619X aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 13236 (DE-604)BV002801238 13236 http://papers.nber.org/papers/w13236.pdf kostenfrei Volltext |
| spellingShingle | Bayer, Patrick J. 1972- Ferreira, Fernando Vendramel McMillan, Robert A unified framework for measuring preferences for schools and neighborhoods |
| title | A unified framework for measuring preferences for schools and neighborhoods |
| title_auth | A unified framework for measuring preferences for schools and neighborhoods |
| title_exact_search | A unified framework for measuring preferences for schools and neighborhoods |
| title_exact_search_txtP | A unified framework for measuring preferences for schools and neighborhoods |
| title_full | A unified framework for measuring preferences for schools and neighborhoods Patrick Bayer ; Fernando Ferreira ; Robert McMillan |
| title_fullStr | A unified framework for measuring preferences for schools and neighborhoods Patrick Bayer ; Fernando Ferreira ; Robert McMillan |
| title_full_unstemmed | A unified framework for measuring preferences for schools and neighborhoods Patrick Bayer ; Fernando Ferreira ; Robert McMillan |
| title_short | A unified framework for measuring preferences for schools and neighborhoods |
| title_sort | a unified framework for measuring preferences for schools and neighborhoods |
| url | http://papers.nber.org/papers/w13236.pdf |
| volume_link | (DE-604)BV002801238 |
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