Abstracts for Vol.
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This study explores which measures of public school quality the housing market values. Both a traditional hedonic house price estimation and a hedonic corrected for spatial autocorrelation are used. Teacher salary and student attendance rates are also valued, but these results are sensitive to the estimation technique employed. Value-added measures, the graduation rate, teacher experience levels and teacher education levels are not consistently positively related to housing prices, so researchers should probably avoid using them as public education quality measures. Return to the top of this web page Client Feedback and the Role of the Appraiser Marvin L. Wolverton and Paul Gallimore Appraisers routinely work at solving ill-structured valuation problems where the normative performance criterion is an objective judgement of market value as of the valuation date.