The New Economics of Equilibrium Sorting and Its Transformational Role for Policy Evaluation

  title={The New Economics of Equilibrium Sorting and Its Transformational Role for Policy Evaluation},
  author={Nicolai V. Kuminoff and V. Kerry Smith and Christopher Timmins},
Households “sort” across neighborhoods according to their wealth and their preferences for public goods, social characteristics, and commuting opportunities. The aggregation of these individual choices in markets and in other institutions influences the supply of amenities and local public goods. Pollution, congestion, and the quality of public education are examples. Over the past decade, advances in economic models of this sorting process have led to new framework that promises to alter the… CONTINUE READING
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