Towards integrated land use and transportation: A dynamic disequilibrium based microsimulation framework for built space markets
Investigating the factors and processes that influence the spatiotemporal distribution of built space and population in an urban area, plays an extremely important role in our greater understanding of the urban travel behaviour. Existing location of activity centres, especially home and work, strongly influences the short-term individual-level decisions such as mode of transportation, and long-term household-level decisions such as change in job and residential location. Conditions in the built space market also affect households’ and firms’ location and relocation decisions, and hence influence the general travel patterns in an urban area. In this context, this paper addresses a very important, but at the same time, not very widely investigated dimension that plays a key role in the evolution of built space and population distribution: Market. A disequilibrium based microsimulation modelling framework is developed for the built space markets. This framework is then used to operationalize the Greater Toronto and Hamilton Area’s owner-occupied housing market within Integrated Land Use Transportation and Environment (ILUTE) modelling system. Simulation results captured heterogeneity in the transaction prices, due to type of dwellings and different market conditions, in a very disaggregate fashion. The proposed methodology is validated by running the simulation from 1986 to 2006 and comparing the results with the historic data.
Volume (Year): 46 (2012)
Issue (Month): 7 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/547/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/supportfaq.cws_home/regional|
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.:
- Wako, Jun, 2005. "Coalition-proof Nash allocation in a barter game with multiple indivisible goods," Mathematical Social Sciences, Elsevier, vol. 49(2), pages 179-199, March.
- Ellickson, Bryan, 1981. "An alternative test of the hedonic theory of housing markets," Journal of Urban Economics, Elsevier, vol. 9(1), pages 56-79, January.
- Klaus, Bettina, 2008.
"The coordinate-wise core for multiple-type housing markets is second-best incentive compatible,"
Journal of Mathematical Economics,
Elsevier, vol. 44(9-10), pages 919-924, September.
- Klaus,Bettina, 2005. "The Coordinate-Wise Core for Multiple-Type Housing Markets is Second-Best Incentive Compatible," Research Memorandum 018, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
- Takamiya, Koji, 2001. "Coalition strategy-proofness and monotonicity in Shapley-Scarf housing markets," Mathematical Social Sciences, Elsevier, vol. 41(2), pages 201-213, March.
- Guillermo OWEN, 1992. "The Assignment Game : The Reduced Game," Annales d'Economie et de Statistique, ENSAE, issue 25-26, pages 71-79.
- Chris Leishman & Glen Bramley, 2005. "A local housing market model with spatial interaction and land-use planning controls," Environment and Planning A, Pion Ltd, London, vol. 37(9), pages 1637-1649, September.
- Patrick Bayer & Robert McMillan & Kim Rueben, 2004. "An Equilibrium Model of Sorting in an Urban Housing Market," NBER Working Papers 10865, National Bureau of Economic Research, Inc.
- Frejinger, E. & Bierlaire, M. & Ben-Akiva, M., 2009. "Sampling of alternatives for route choice modeling," Transportation Research Part B: Methodological, Elsevier, vol. 43(10), pages 984-994, December.
- Swait, Joffre, 2001. "Choice set generation within the generalized extreme value family of discrete choice models," Transportation Research Part B: Methodological, Elsevier, vol. 35(7), pages 643-666, August.
- Swait, Joffre & Ben-Akiva, Moshe, 1987. "Incorporating random constraints in discrete models of choice set generation," Transportation Research Part B: Methodological, Elsevier, vol. 21(2), pages 91-102, April.
- Lawrence B. Smith, 1969. "A Bi-Sectoral Housing Market Model," Canadian Journal of Economics, Canadian Economics Association, vol. 2(4), pages 557-569, November.
- Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
When requesting a correction, please mention this item's handle: RePEc:eee:transa:v:46:y:2012:i:7:p:1030-1053. See general information about how to correct material in RePEc.
If references are entirely missing, you can add them using this form.