The Valuation of Local School Quality under School Choice
研究了择校项目（特许学校扩张）如何削弱学校质量对房价的影响，发现平均使传统学校的价值降低4个百分点，并可能通过重新择校改变社区结构。
School choice programs break the link between residential location and school attendance, and should weaken the capitalization of school quality into house prices. For the first time, I quantify the effect of one such program—charter school expansions—across several states using a dataset covering charter entries and house prices. I embed an event study of charter entry into a boundary discontinuity design and find that, on average, school choice decreases the valuation of traditional schools by four percentage points. Suggestive evidence shows school choice can lead to neighborhood change through resorting as school boundaries become less important.