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How Critical Is a Good Location to a Regional Shopping Center?

The goal of this paper is to empirically measure the consumer utility tradeoff between store location (i.e., distance to a shopping center) and retail agglomeration in regional shopping centers. Using the Lakshmanan and Hansen retail expenditure model, our findings reveal that the distance specification is of surprisingly little importance in explaining retail sales. Conversely, agglomeration economies were of significant importance in explaining consumer patronage at regional shopping centers. The implication of these results is that smaller regional shopping centers may be dominated by large super-regional shopping centers with the smaller one or two anchor regional shopping centers unable to compete with the larger, many-anchored super-regional shopping centers.

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File URL: http://pages.jh.edu/jrer/papers/pdf/past/vol12n03/v12p459.pdf
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Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 12 (1996)
Issue (Month): 3 ()
Pages: 459-468

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Handle: RePEc:jre:issued:v:12:n:3:1996:p:459-468
Contact details of provider: Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Order Information: Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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  1. B. Curtis Eaton & Richard G. Lipsey, 1976. "Comparison Shopping and Clusters of Homogeneous Firms," Working Papers 226, Queen's University, Department of Economics.
  2. Mark J. Eppli & John D. Benjamin, 1994. "The Evolution of Shopping Center Research: A Review and Analysis," Journal of Real Estate Research, American Real Estate Society, vol. 9(1), pages 5-32.
  3. West, Douglas S & Von Hohenbalken, Balder & Kroner, Kenneth, 1985. "Tests of Intraurban Central Place Theories," Economic Journal, Royal Economic Society, vol. 95(377), pages 101-17, March.
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