Revealed preference and location choice
Article Abstract:
An alternative description of the standard model describing a major finite spatial urban residential economy with land parcels of positive area is presented. It serves as an extension of the revealed preference theory to portray the spatial market outcome as a large finite economy in equilibrium. This formulation deals with intra-urban residential location choice and generates configurations where consumers use residential lots with positive area. This framework's generalization of the standard utility function approach demonstrates that the most significant predictions of the standard theory are supported in the general finite model developed through this study. It appears that the assumptions of densities and infinitesimal width plots of land described in the standard utility function model can be read as practical assumptions that facilitate exposition without supporting the implications of land use theory.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1997
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Market structure, location rents, and the land development process
Article Abstract:
The effects of location rents and market power on the allocation process for land use are examined. It is found that land market power increases may either slow or speed land use adjustment, depending on the initial state. Land use adjustment is generally slowed by location rents if all sectors are competitive and if the land market is monopolistic. Concern about land market concentration should be tempered, since an inclination toward market concentration does not in and of itself show an increasing divergence from a land use trajectory which is socially efficient. The effect of possible locational rents should be considered, as well as the extent of market power in the development sector, since both can vitiate land market power's social inefficiency.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1988
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Brokerage pricing under competition
Article Abstract:
This article examines the relationship between price fixing, real estate commission, and housing market behavior. Topics include price variation, competition, and an analysis of urban economics.
Publication Name: Journal of Urban Economics
Subject: Government
ISSN: 0094-1190
Year: 1997
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