The value of school choice opportunities
利用德国北威州取消学区划片的改革，研究发现获得更优质小学的入学机会能使房价上涨1.5%，且该效应随距离增加而减弱。
In this paper, we study the house price effects of local school choice opportunities among public primary schools using a rare and large-scale reform that abolished binding catchment areas in North Rhine-Westphalia, the largest German state with 18 million inhabitants. To estimate the reform’s effect on valuations of houses, we compare houses with different local school choice sets, before and after the reform. We find that gaining access to a school within 2,000 meters and with a higher transition rate to the academic track (relative to the initial neighborhood school) increases house prices by 1.5 percent. This effect is larger when the more attractive school is closer and diminishes as distance grows. The full reform effect materializes roughly five years after reform onset.