Microeconomic modeling in urban science
"Microeconomic Modeling in Urban Science proposes an interdisciplinary framework for the analysis of urban systems. It portrays agents as rational beings modeled under the framework of random utility behavior and interacting in a complex market of location auctions, location externalities, aggl...
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| Main Author | |
|---|---|
| Format | eBook Book |
| Language | English |
| Published |
London
Academic Press, an imprint of Elsevier
2018
Elsevier Science & Technology Academic Press |
| Edition | 1 |
| Subjects | |
| Online Access | Get full text |
| ISBN | 0128152966 9780128152966 |
| DOI | 10.1016/C2017-0-01512-4 |
Cover
Table of Contents:
- From Relative to Absolute Prices -- The Frechit Model -- Comments on Short-Term Equilibrium -- 5.3 Long-Term Land-Use Equilibrium -- Scale Economies and Land Price Dependency in Supply Costs -- The Optimal Supply Choice Set -- Comments on Long-Term Equilibrium -- 5.4 Long-Term Equilibrium With Externalities -- 5.5 Maximization of Total Surplus -- 5.6 Modeling Constrained Choices -- The Constrained Choice Models -- The Constrained Entropy -- The Impact on Land-Use Equilibrium -- 5.7 Remarks and Comments -- Technical Note 5.1: Uniqueness of Equilibrium Utilities -- The Logit Model -- The Frechit Model -- Technical Note 5.2: Fixed-Point Externalities -- The Logit Model -- The Frechit Model -- Technical Note 5.3: The Social Benefit of the Land-Use Market -- References -- 6 - The Land-Use and Transportation System -- 6.1 Introduction -- 6.2 The Integrated Land-Use and Transportation Equilibrium -- The Classical Four-Step Transportation Model -- The Integrated Land-Use and Transportation Model -- The Transportation Equilibrium Problem -- The LUT Short-term Optimization Problem -- The Logit Model -- The Frechit Model -- The Long-term LUT Optimization Problem (Without Externalities) -- The LUT Equilibrium With Externalities -- The Logit Model -- The Frechit Model -- Remarks and Comments -- 6.3 Summary -- Technical Note 6.1: The LUT Equivalent Optimization Problem -- The Short-term Logit Model (Without Location Externalities) -- The Long-Term Logit Model (Without Location Externalities) -- Technical Note 6.2: Bounds for the Model With Externalities -- References -- 7 - The General Urban System -- 7.1 Introduction -- 7.2 The Integrated LUTE Model -- 7.3 The Input-Output Model -- 7.4 The Mixed Discrete-Continuous Model -- The A-L Demand Model -- 7.5 The Random Discrete-Continuous Goods Demand Model
- Front Cover -- Microeconomic Modeling in Urban Science -- Microeconomic Modeling in Urban Science -- Copyright -- Dedication -- Contents -- Foreword -- References -- Acknowledgments -- Notation -- 1 - Introduction -- 1.1 Initial Motivation -- 1.2 Toward an Urban Science -- 1.3 About the Book -- Book Content -- Book Structure -- 1.4 Issues in Urban Structures -- Land Use Problem -- Land Auctions -- Externalities -- Regulations -- Accessibility -- The Economy -- Urban System: Land Use and Transportation Interaction -- 1.5 Issues in Urban Modeling -- Why Modeling? -- Diversity of Choices and Their Perceptions -- System Size -- Complex System -- Bottom-Up Approach -- Stochastic Approach -- Discrete Modeling -- Residential and Nonresidential Activities -- Location Representation -- Location Prices -- Static Versus Dynamic Approaches -- 1.6 Remarks -- References -- 2 - Accessibility∗ -- 2.1 The Concept -- 2.2 Alternative Measures -- 2.3 The Microeconomic Measure of Interactions -- 2.4 Definition of Access -- 2.5 Measuring Access -- Spatial Interaction Entropy Model -- Discrete Choice Random Utility Model -- 2.6 Location Externalities and Agglomeration Economies -- 2.7 Summary -- Technical Note 2.1: Spatial Interaction Entropy Model -- Technical Note 2.2: Discrete Choice Random Utility Model -- Exercise 2.1 -- References -- 3 - Discrete Urban Economic Theory -- 3.1 Introduction -- The Structure of a Land-Use System -- Characteristics of the Market -- 3.2 The Consumer Location Problem -- The Household Location Utility Approach -- The Bid-Auction Approach -- The Auction in the Real Estate Market -- The Willingness to Pay -- The Auction Allocation Process -- The Hedonic Price -- Firms' Location Problem -- The Firm Continuous Location Model -- The Firm Discrete Location Model -- 3.3 The Bid-Choice Equivalence -- 3.4 Suppliers' Behavior
- 7.6 The Household Stochastic Demand Model for Location and Consumption -- The Goods/Leisure Consumption Model -- The Job Location Choice Model -- The Residential Location Model -- 7.7 The Production Model -- The Production of Goods and Leisure Activities -- The Firm Location Model -- The Case of Nonincreasing Returns to Scale -- The Case of Increasing Returns to Scale -- 7.8 The LUTE System Equilibrium -- The Goods/Leisure Equilibrium Prices -- The Labor Market Equilibrium -- The Land-Use Clearing Condition -- 7.9 Summary of the LUTE System Equilibrium -- Technical Note 7.1: The Discrete-Continuous Extreme Value Demand Model -- Technical Note 7.2: Optimal Production -- Technical Note 7.3: Analysis of the LUTE Equilibrium -- Analysis of demand -- References -- 8 - Systems of Cities -- 8.1 Introduction -- 8.2 The Equilibrium of a System of Cities -- Introduction -- Basic Assumptions -- The Demography Model -- The Firmography Model -- Agricultural Land Rents Equilibrium -- System Equilibrium -- 8.3 Cities' Scaling Laws -- Evidence of Scaling Laws -- Scaling Rents -- Analysis of the Rents Power Law -- Scaling in Production -- Consumer Surplus -- 8.4 City Dynamics -- 8.5 Comments on Urban Scaling -- 8.6 Toward a Unified Theory of Organic Systems -- Technical Note 8.1: The Link Between Bids and Utility Parameters4 -- References -- 9 - Model Application and Planning -- 9.1 Introduction -- 9.2 Implementation of the Land-Use Model -- The Input Scenario -- The Bid Function -- Attributes -- The Location Submodel -- Rents -- Real Estate Supply Submodel -- Regulations -- 9.3 Parameter Estimation -- The Set of Land-Use Equations -- Experience Insights -- 9.4 Optimal Planning and Subsidies -- The Planning Problem -- Optimal Subsidies -- Planning to Reduce Social Exclusion -- Regulations -- Planning Policies and the Scale Law -- Remarks -- References
- The Continuous Supply Model -- The Discrete Model of Durable Stock -- The Unified Land-Real Estate Market -- The Generalized Model -- 3.5 Market Clearing2 -- 3.6 Summary -- Technical Note 3.1: The Auction Mechanism -- Technical Note 3.2: Consumers' Surplus -- Exercise 3.1 -- References -- 4 - The Stochastic Bid-Auction Land-Use Model -- 4.1 Introduction -- The Stochastic Approach -- The Aggregation -- 4.2 The Random Utilities -- The Interpretation of the Stochastic Term -- 4.3 The Random Willingness to Pay -- Linear Utilities -- Nonlinear Utilities -- 4.4 The Stochastic Demand Model -- The Assumptions of the Multinomial Logit Model -- The Multinomial Logit Choice Probability: Utility Approach -- The Multinomial Logit Choice Model: Consumer Surplus Approach -- The Multinomial Frechit Choice Model: Consumer Surplus -- 4.5 Substitution Property of Stochastic Demand -- 4.6 The Stochastic Bid-Auction Approach -- The Multinomial Logit Bid-Auction Probability -- The Logit Hedonic Price -- The Multinomial Frechit Bid-Auction Probability -- The Frechit Hedonic Price -- Estimation of Willingness to Pay -- 4.7 The Stochastic Bid-Choice Equivalence -- Equivalence in the Logit Model -- Equivalence in Frechit Model -- 4.8 The Stochastic Supply Model -- The Stochastic Profit -- The Competitive Supply Market -- 4.9 Summary -- Technical Note 4.1: Extreme Value Distributions -- Logit Model -- The Frechit Model -- References -- 5 - Land-Use Stochastic Equilibrium -- 5.1 Introduction -- City Structures -- The Concept of Equilibrium -- Levels of Analysis -- External Scenarios -- Behavior of Agents -- The Role of Constraints -- This Chapter -- 5.2 Short-Term Land-Use Equilibrium -- Total Demand Equals Supply -- Consumers' Equilibrium -- Demand Equals Supply at Each Location -- The City Boundary -- Equilibrium of Utilities and Prices -- The Logit Model
- 10 - FAQs and Policy Analysis -- 10.1 Introduction -- 10.2 How Cities Grow? -- 10.3 Why Cities Do not Collapse into a Single City or a City into a Single Building? -- 10.4 Are Universal Scaling Laws Paradoxical? -- 10.5 Are Megacities Too Large? -- 10.6 Is Urban Sprawl a Tragedy? -- 10.7 How to Handle Socioeconomic Exclusion? -- 10.8 Does Accessibility Generate Development? -- 10.9 Who Captures the Benefits of Transportation Investments? -- 10.10 How to Measure Transportation Project Benefits? -- 10.11 Final Remarks -- References -- Index -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- U -- W -- Z -- Back Cover