Abstract
The concept of “town equity” is defined, and the meaning of “the goal of urban development” is clarified.
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Notes
- 1.
As for the information evolution of town walking, refer to Saito [7].
- 2.
A new hotspot in Shanghai, Xintiandi, utilizes many cross intersections between division lots like traditional hutong, which is said to borrow the idea of the curves in Canal City Hakata.
- 3.
- 4.
As an indirect evidence for the hypothesis of information evolution of town walking, we have the result of the measurement of time value of shopping (Cf. Saito, Yamashiro, Kakoi, Nakashima [11] and Chap. 10 of this book). According to the result, when we compare consumers’ time values by their purchase attitudes, among the three purchase attitudes, “coming to preview goods and prices,” “thinking about buying if there are good products,” and “a definite intention to buy the items,” the highest time value is “thinking about buying if there are good products,” the next is “coming to preview goods and prices,” and the lowest is “a definite intention to buy the items.” This means that consumers give a great value to the discovery of new good products on shopping, which indirectly supports our information evolution hypothesis.
- 5.
Marunouchi district, a business district adjoining to Tokyo Station, is an instance. Also see Saito [5].
- 6.
As for the brand equity, refer to Aaker [1].
- 7.
The recent uses of the concept of brand equity appear in terminology such as “place branding” or “tourism destination brand equity,” which is similar to the concept of “town equity” (Cf. Gomez, Lopez, Molina [2]).
- 8.
- 9.
- 10.
We have tried to measure the town equity of Daimyo district, a part of the city center of Fukuoka City (Cf. Saito, Iwami, Nakashima, Yamashiro, Sato [9]). In this measurement, the additional cash flow is defined as the willingness to pay additional expenditure to Daimyo in comparison with the average expenditure at the whole Tenjin district.
- 11.
While gaining the additional cash flow is utilized to evaluate the town equity, the opposite case of waiving the additional cash flow is applied in Saito, Ishibashi, Kumata [8] to the valuation of the river flowing through the city center retail environment. In their study, the existence of the river decreases the turnover of retail sectors at both sides. This decrease of the turnover is regarded as the willingness to waive to preserve the natural asset of the river.
References
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Saito, S. (2018). The Concept of Town Equity and the Goal of Urban Development. In: Saito, S., Yamashiro, K. (eds) Advances in Kaiyu Studies. New Frontiers in Regional Science: Asian Perspectives, vol 19. Springer, Singapore. https://doi.org/10.1007/978-981-13-1739-2_18
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