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If Alonso Was Right: Accessibility as Determinant for Attractiveness of Urban Location

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  • Gabriel Ahlfeldt

    ()
    (Chair for Economic Policy, University of Hamburg)

Abstract

This paper assesses impact of accessibility corresponding to three distinct modes of urban transportation. The Alonso hypothesis of residents being fully compensated for rents increasing with proximity to CBD by employment opportunities is tested by application of a hedonic model using micro level data to explain standard land values in Berlin. Access to employment as well as location endowments with natural amenities and publicly and privately provided services are captured by potentiality variables. Similarly, impact of population potentiality is assessed for business properties. Accessibility generated by urban rail network is clearly found to have positive impacts on property prices and fully explains attractiveness of urban centrality for business. For residential properties, however, impact of proximity to CBD cannot be completely explained by employment opportunities revealing that the CBD provides additional services valued by residents.

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File URL: http://www.hced.uni-hamburg.de/WorkingPapers/HCED_12.pdf
File Function: First version, 2007
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Bibliographic Info

Paper provided by Chair for Economic Policy, University of Hamburg in its series Working Papers with number 012.

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Length: 36 pages
Date of creation: 2007
Date of revision:
Publication status: Published in Hamburg Contemporary Economic Discussions, Issue 12, 2007
Handle: RePEc:hce:wpaper:012

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Related research

Keywords: Market Access; Employment Access; Land Values; Polycentric City; Urban Transport; Alonso;

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Cited by:
  1. Torberg Falch & Justina AV Fischer, 2008. "Public sector decentralization and school performance. International evidence," TWI Research Paper Series, Thurgauer Wirtschaftsinstitut, Universität Konstanz 39, Thurgauer Wirtschaftsinstitut, Universität Konstanz.
  2. Ahlfeldt, Gabriel M. & Wendlan, Nicolai, 2008. "Spatial Determinants of CBD Emergence: A Micro-level Case Study on Berlin∗," MPRA Paper 11572, University Library of Munich, Germany.
  3. Fischer, Justina AV & Sousa-Poza, Alfonso, 2010. "The impact of institutions on firms’ rejuvenation policies: Early retirement with severance pay versus simple lay-off. A Cross-European Analysis," MPRA Paper 20343, University Library of Munich, Germany.
  4. Gabriel M. Ahlfeldt & Wolfgang Maennig, 2010. "Substitutability and Complementarity of Urban Amenities: External Effects of Built Heritage in Berlin," Real Estate Economics, American Real Estate and Urban Economics Association, American Real Estate and Urban Economics Association, vol. 38(2), pages 285-323.

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