%0 Report
        %A Fesselmeyer, Eric
%A Liu, Haoming
        %T How Do Users Value a Network Expansion? Evidence from the Public Transit System in Singapore
        %D 2016
        %8 2016 Aug
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 10142
        %U https://www.iza.org/publications/dp10142
        %X We estimate the network externality of a public transit system by examining the effects of its expansion on the housing market. Our results show that a major expansion of Singapore's Mass Rapid Transit (MRT) system increased the price of apartments within 0.5 km of a pre-expansion station by 1.6% to 2.1% relative to apartments that were further away from a station. Evaluated at the mean housing price, the expansion increased the value of pre-connected apartments by at least S$386 million, which is equivalent to about 8% of the estimated S$5 billion cost of the expansion.
        %K housing
%K public transportation
%K network effects