EVALUATING THE SOCIAL OPTIMALITY OF DURABLE PUBLIC GOOD PROVISION USING THE HOUSING PRICE RESPONSE TO PUBLIC INVESTMENT
探讨了利用住房价格反应评估耐久性公共品供给效率的理论基础，指出该技术用于非耐久品时有效，但在耐久品情况下可能错误预测供给不足或过度。
Recent empirical work in public finance uses the housing price response to public investment to assess the efficiency of local durable public good provision. This article explores the theoretical justification for this technique. It points out that the logic justifying the technique for evaluating nondurable public good provision does not translate to the durable case. A model in which investment is determined by the interaction between a budget‐maximizing bureaucrat and a community's residents is used to demonstrate that the technique can falsely predict underprovision, falsely predict overprovision, or perform without error.