The external cost of prostitution: Evidence from shutting down red light districts in the Netherlands
研究荷兰乌得勒支市红灯区关闭后房价变化，发现红灯区对房价有空间异质性影响，远离营业妓院的区域房价最高上涨12%，但红灯区也增加了当地多行业就业，居民厌恶主要源于轻微犯罪。
Abstract This article examines the value of externalities created by the presence of sex workers in the city. Although a legal paid‐sex industry might contribute to the economy, it may also generate negative externalities. To identify the net impact of overt prostitution, we estimate changes in housing prices following the sudden closure of the two red light districts (RLDs) in the Dutch City of Utrecht. Our results show that the capitalization effect of RLDs is spatially heterogeneous. While some areas are unaffected, others are up to 12% more expensive if far from operating brothels. Interestingly, though, evidence also shows that RLDs increase local employment in a variety of sectors. All the aversion to living near RLDs is instead explained by petty crimes.