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Modeling the effects of integrated rail and property development on the design of rail line services in a linear monocentric city

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  • Li, Zhi-Chun
  • Lam, William H.K.
  • Wong, S.C.
  • Choi, Keechoo
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    Abstract

    This paper proposes a new model for investigating the effects of integrated rail and property development on the design of rail line services in a linear monocentric city, in which the property development rights at railway station areas are conferred to a private rail operator. The proposed model allows an explicit consideration of the interaction between two types of agents in the economy: (1) a private rail operator who seeks to optimize rail service variables—rail line length, number and spacing of stations, headway and fare—to maximize its own net profit, which is the sum of revenues from passenger fare-box and property development; and (2) households who choose the residential locations that maximize their own utilities subject to a budget constraint. The solution properties of the proposed model are analyzed, and a heuristic solution algorithm is presented. An illustrative example is used to show the application of the proposed model. The findings show that integrated rail and property development can change a city’s land-use pattern and housing market (in terms of housing density, space, and price), and its economic viability is closely related to household income level and residential density of the city.

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    Bibliographic Info

    Article provided by Elsevier in its journal Transportation Research Part B: Methodological.

    Volume (Year): 46 (2012)
    Issue (Month): 6 ()
    Pages: 710-728

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    Handle: RePEc:eee:transb:v:46:y:2012:i:6:p:710-728

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    Related research

    Keywords: Rail transit line; Integrated rail-property development; Linear monocentric city; Households’ residential location choices; Urban land use; Housing market;

    References

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    1. Anas, Alex & Moses, Leon N., 1979. "Mode choice, transport structure and urban land use," Journal of Urban Economics, Elsevier, vol. 6(2), pages 228-246, April.
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    3. Fujita,Masahisa, 1991. "Urban Economic Theory," Cambridge Books, Cambridge University Press, number 9780521396455, April.
    4. Li, Zhi-Chun & Lam, William H.K. & Wong, S.C. & Sumalee, A., 2012. "Design of a rail transit line for profit maximization in a linear transportation corridor," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 48(1), pages 50-70.
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    14. Bowes, David R. & Ihlanfeldt, Keith R., 2001. "Identifying the Impacts of Rail Transit Stations on Residential Property Values," Journal of Urban Economics, Elsevier, vol. 50(1), pages 1-25, July.
    15. Wasmer, Etienne & Zenou, Yves, 2002. "Does City Structure Affect Job Search and Welfare?," Journal of Urban Economics, Elsevier, vol. 51(3), pages 515-541, May.
    16. McDonald, John F., 2009. "Calibration of a monocentric city model with mixed land use and congestion," Regional Science and Urban Economics, Elsevier, vol. 39(1), pages 90-96, January.
    17. McDonald, John F. & Osuji, Clifford I., 1995. "The effect of anticipated transportation improvement on residential land values," Regional Science and Urban Economics, Elsevier, vol. 25(3), pages 261-278, June.
    18. Zhou, Jing & Lam, William H.K. & Heydecker, Benjamin G., 2005. "The generalized Nash equilibrium model for oligopolistic transit market with elastic demand," Transportation Research Part B: Methodological, Elsevier, vol. 39(6), pages 519-544, July.
    19. Olaru, Doina & Smith, Brett & Taplin, John H.E., 2011. "Residential location and transit-oriented development in a new rail corridor," Transportation Research Part A: Policy and Practice, Elsevier, vol. 45(3), pages 219-237, March.
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    Cited by:
    1. Dubé, Jean & Legros, Diègo & Thériault, Marius & Des Rosiers, François, 2014. "A spatial Difference-in-Differences estimator to evaluate the effect of change in public mass transit systems on house prices," Transportation Research Part B: Methodological, Elsevier, vol. 64(C), pages 24-40.
    2. MA, Xiaosu & LO, Hong K., 2013. "On joint railway and housing development strategy," Transportation Research Part B: Methodological, Elsevier, vol. 57(C), pages 451-467.
    3. Li, Zhi-Chun & Chen, Ya-Juan & Wang, Ya-Dong & Lam, William H.K. & Wong, S.C., 2013. "Optimal density of radial major roads in a two-dimensional monocentric city with endogenous residential distribution and housing prices," Regional Science and Urban Economics, Elsevier, vol. 43(6), pages 927-937.

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