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Landscape Preferences and Patterns of Residential Development

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Author Info
Matthew Turner

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Abstract

I analyze a model of residential location choice in which people derive utility from their proximity to open space. When people have such landscape preferences a new residential development contains more people, more tightly packed than is optimal. More surprising, in a model where new residents arrive simultaneously, I find that land price gradients are highly non-monotonic and do correctly reflect the value of open space. On the other hand, when new residents arrive sequentially, land price gradients are nearly monotonic but do not correctly reflect the value of open space. Finally, dynamic equilibria generally have the property that more remote areas are developed before more central areas. These results have a number of interesting implications for policy. In particular; (1) the creation of central city parks is welfare improving, (2) infill development of central city open space is not welfare improving, (3) the ability of regulation to restrict development at the city<92>s limit, <91>greenbelts<92>, to improve welfare does not derive from a taste for nearby open space, and (4), creating small parks in undeveloped areas before they are subject to development pressure may deter <91>leapfrogging<92> development. Finally, the fact that land prices need not reflect the value of open space suggests that hedonic estimates may understate the value of such open space.

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Paper provided by University of Toronto, Department of Economics in its series Working Papers with number mturner-03-01.

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Length: 36 pages
Date of creation: 11 Jul 2003
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Handle: RePEc:tor:tecipa:mturner-03-01

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Related research
Keywords: Sprawl; Landscape preferences.;

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Find related papers by JEL classification:
R2 - Urban, Rural, and Regional Economics - - Household Analysis
H0 - Public Economics - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Cheshire, Paul & Sheppard, Stephen, 2002. "The welfare economics of land use planning," Journal of Urban Economics, Elsevier, vol. 52(2), pages 242-269, September. [Downloadable!] (restricted)
  2. Kenneth T. Rosen & Lawrence F. Katz, 1981. "Growth Management and Land use Controls: The San Francisco Bay Area Experience," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 9(4), pages 321-344. [Downloadable!] (restricted)
  3. Robert E. Lucas & Esteban Rossi-Hansberg, 2002. "On the Internal Structure of Cities," Econometrica, Econometric Society, vol. 70(4), pages 1445-1476, July. [Downloadable!] (restricted)
  4. Elena G. Irwin, 2002. "The Effects of Open Space on Residential Property Values," Land Economics, University of Wisconsin Press, vol. 78(4), pages 465-480. [Downloadable!] (restricted)
  5. Henderson, Vernon & Mitra, Arindam, 1996. "The new urban landscape: Developers and edge cities," Regional Science and Urban Economics, Elsevier, vol. 26(6), pages 613-643, December. [Downloadable!] (restricted)
  6. Bar-Ilan, Avner & Strange, William C., 1996. "Urban Development with Lags," Journal of Urban Economics, Elsevier, vol. 39(1), pages 87-113, January. [Downloadable!] (restricted)
  7. Berliant, Marcus & Peng, Shin-Kun & Wang, Ping, 2002. "Production Externalities and Urban Configuration," Journal of Economic Theory, Elsevier, vol. 104(2), pages 275-303, June. [Downloadable!] (restricted)
    Other versions:
  8. Kahn, Matthew E, 2001. "City Quality-of-Life Dynamics: Measuring the Costs of Growth," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 339-52, March-May. [Downloadable!] (restricted)
  9. Fujita, Masahisa, 1976. "Spatial patterns of urban growth: Optimum and market," Journal of Urban Economics, Elsevier, vol. 3(3), pages 209-241, July. [Downloadable!] (restricted)
  10. Geoghegan, Jacqueline & Wainger, Lisa A. & Bockstael, Nancy E., 1997. "Spatial landscape indices in a hedonic framework: an ecological economics analysis using GIS," Ecological Economics, Elsevier, vol. 23(3), pages 251-264, December. [Downloadable!] (restricted)
  11. Katz, Lawrence & Rosen, Kenneth T, 1987. "The Interjurisdictional Effects of Growth Controls on Housing Prices," Journal of Law & Economics, University of Chicago Press, vol. 30(1), pages 149-60, April.
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Lewis, David J. & Provencher, Bill & Butsic, Van, 2008. "The Dynamic Effects of Open-Space Conservation Policies on Residential Development Density," Staff Paper Series 522, University of Wisconsin, Agricultural and Applied Economics. [Downloadable!]
  2. Marcy Burchfield & Henry G. Overman & Diego Puga & Matthew A. Turner, 2005. "Causes of sprawl: A portrait from space," Working Papers tecipa-192, University of Toronto, Department of Economics. [Downloadable!]
    Other versions:
  3. Alexander E. Saak, 2004. "Equilibrium and Efficient Land-Use Arrangements under Spatial Externality on a Lattice," Food and Agricultural Policy Research Institute (FAPRI) Publications 04-wp376, Food and Agricultural Policy Research Institute (FAPRI) at Iowa State University. [Downloadable!]
  4. Alexander E. Saak, 2004. "Equilibrium and Efficient Land-Use Arrangements under Spatial Externality on a Lattice," Center for Agricultural and Rural Development (CARD) Publications 04-wp376, Center for Agricultural and Rural Development (CARD) at Iowa State University. [Downloadable!]
  5. Harpankar, Kshama, 2006. "Reserve Selection in the presence of Economic Feedback Effects," 2006 Annual meeting, July 23-26, Long Beach, CA 21177, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  6. Uwasu, Michinori & Nelson, Erik & Polasky, Stephen, 2005. "Voting on Open Space: An Analysis of the Decision to Hold a Referendum and of Referendum Results," Staff Papers 13837, University of Minnesota, Department of Applied Economics. [Downloadable!]
  7. Lewis, David & Wu, Junjie, 2005. "Optimal Economic Landscapes with Habitat Fragmentation Effects," 2005 Annual meeting, July 24-27, Providence, RI 19425, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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