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Consistent estimation of the urban land value function

Article Abstract:

Previous research findings regarding the estimation of urban land valuation suggest that the urban land value function became flatter in the 19th century as a result of increasing incomes and falling transportation costs. Additionally, the findings conclude that housing demand became less elastic during the same time period. However, current research suggests that the latter findings are invalid when consistent estimation processes are utilized to correctly define the city area. Current research results indicate that the price of elasticity for the 19th century was approximately unity. This result helps to support the simple version of the monocentric urban model because the suggested estimates of the underlying parameters have validity.

Economic research, Cities and towns, Land use

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Multiple regime bid-rent function estimation

Article Abstract:

Estimators for multiple regime selection models were analyzed with the aim of ascertaining their applicability for urban modeling. Findings revealed that none of the estimators is exclusively suitable in theoretical terms. The Lerman and Kern estimator has independent and identically distributed errors across regimes, which is very limiting and results in inconsistent coefficient estimates when not correct. On the other hand, the distributional assumptions of the Dubin-McFadden and Lee estimators were found to be inconsistent with bid-rent theory and generate inconsistent coefficient estimates. Nevertheless, Monte Carlo evidence showed that the bias stemming from improper distributional assumptions is not that significant.

Urban economics, Functions (Mathematics), Functions

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The number of sub centers in large urban areas

Article Abstract:

Theoretical prediction shows that, with the increase in the number of employment subcentres,The population and commuting costs rises. To demonstrate these predictions, the Fujita and Ogawa model is used.

Forecasts, trends, outlooks, Management dynamics, Other Justice, Public Order, and Safety Activities, Administration of Urban Planning and Community and Rural Development, Urban Planning Assistance, Personnel Aid Programs, Management, Forecasts and trends, Market trend/market analysis, City planning, Urban planning, Company business management, Employee assistance programs

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