Transportation costs and the rent gradient
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Car restriction policies and housing markets
2022, Journal of Development EconomicsCitation Excerpt :This paper builds on a long literature in urban economics seeking to understand the relationship between commuting costs and location choices. Earlier work tends to take a hedonic approach (e.g. Rosen, 1974, Anas and Chu, 1984, Coulson and Engle, 1987), or utilize highway, rail station and subway expansions (e.g. Bajic, 1983, Nelson, 1992, Gatzlaff and Smith, 1993, Cervero, 2004, McMillen and McDonald, 2004, Ryan, 2005, Debrezion et al., 2007, Baum-Snow, 2007) and fuel prices (e.g. Sexton et al., 2012, Molloy and Shan, 2013) as sources of variation in commuting costs. Important challenges in this line of work include omitted variables and endogeneity to do with anticipation and simultaneity in general equilibrium.10
The effect of gasoline prices on suburban housing values in China
2022, China Economic ReviewCitation Excerpt :Various studies have found that fuel costs influence choices of home location and that higher transportation costs increase the benefit of living closer to workplaces and amenities (Agarwal et al. (2015); Erath & Axhausen, 2010; Molloy & Shan, 2013; Tanguay & Gingras, 2012; Tse & Chan, 2003). Studies on the effects of gasoline prices in the US have found that higher gasoline prices lead to a relative decline in the values of homes in outer suburbs relative to inner suburbs (Blake, 2016; Cortright, 2008; Coulson & Engle, 1987; Larson & Zhao, 2017a; Morris & Neill, 2014; Morris et al. (2020); Wu et al. (2019). Our study is the first on the effect of gasoline prices on spatial patterns in urban residential housing values in China.
The impact of shared mobility services on housing values near subway stations
2021, Transportation Research Part D: Transport and EnvironmentHousing supply elasticity, gasoline prices, and residential property values
2020, Journal of Housing EconomicsCitation Excerpt :This result is congruent with the over-capitalization result found in Coulson and Engle (1987).
Self-driving cars and the city: Effects on sprawl, energy consumption, and housing affordability
2020, Regional Science and Urban EconomicsCitation Excerpt :This new value for τ is speculative, so we also consider alternative parameterizations of τ, ranging from 0.1 to 0.4, shown in the Appendix. It is known a reduction in the marginal cost of distance will flatten the house price, land price, and density gradients, and increase housing consumption, and energy consumption, all else equal (see Coulson and Engle, 1987, Mieszkowski and Mills, 1993, Brueckner et al., 2001, and Larson and Zhao, 2017, for instance).23 The purpose of this model is to capture this straightforward transportation cost effect before moving on to more complex models.