Abstract
Almost all previous studies analyzing the benefits and consumption effects of public housing programs have used aggregation theorems to construct composite goods “housing” and “all other goods.” In this paper we show that, if it is more realistically assumed that households have preferences defined on housing characteristics, benefits estimated using the composite approach are upward biased. Some empirical work suggests that the bias is large. We therefore strongly advise to take into account the composition of the bundle of housing attributes provided under a public housing program when evaluating the program's economic effects.
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