NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Ignacio Sarmiento

University of Illinois
Department of Economics

E-Mail: EmailAddress: hidden: you can email any NBER-related person as first underscore last at nber dot org

NBER Working Papers and Publications

September 2018Unlocking Amenities: Estimating Public-Good Complementarity
with David Albouy, Peter Christensen: w25107
Our results indicate that improving safety near parks can turn them from public bads to goods. Ignoring complementarities may lead to i) undervaluing the potential value of public goods; ii) overestimating heterogeneity in preferences; and iii) understating the value of public goods to low income households. Recent reductions in crime have “unlocked” $3 billion in property value in these three cities. Still over half of the potential value of park proximity (approximately $9 billion) remains locked in.
 
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