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Rail-transit and real estate values in a polycentric city: A theoretic simulation approach

  • Daniel Gat

Abstract

The purpose of this chapter is to provide a microeconomic framework for tracing the impact of urban rail transit on the residential real estate market. It presents an urban polycentric model that is quite simple, yet it is complex enough to handle automobile traffic congestion as well as transit and park-and-ride. The model is derived from a long line of microeconomic monocentric urban models. The model is estimable, but not empirically estimated here; instead, it is run as a spreadsheet simulation with artificial parameter values. Results are computed and shown graphically and geographically; they support the claim that transit introduction is likely to raise real estate values, but are conditional with regard to instigating inner city redevelopment.

Keywords

Travel Time Real Estate Travel Mode Transit Network Rail Transit 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Physica-Verlag Heidelberg 2008

Authors and Affiliations

  • Daniel Gat
    • 1
  1. 1.Technion Israel Institute of TechnologyCenter for Urban and Regional StudiesHaifaIsrael

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