Modeling Recreational Amenities in an Urban Setting: Location, Congestion, and Substitution Effects
In this article, we introduce a recreational amenityâ€”a greenbelt parkâ€”into a simple urban economic model. For multiple possible park placements, we solve for the associated equilibrium urban structure, including the equilibrium rent gradient, city boundary, total number of park visits, the overall utility level, and total vehicle miles traveled. We examine how these change with alternative park placement sites. We then show how two modifications of the basic modelâ€”allowing congestion at the site to affect site quality, and introducing the possibility of a substitute site at the cityâ€™s peripheryâ€”affect our conclusions about how greenbelt location influences urban structure.
Volume (Year): 37 (2008)
Issue (Month): 2 (October)
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