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

  • Gabriel Ahlfeldt

    ()

    (Chair for Economic Policy, University of Hamburg)

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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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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Phone: +49 (0)40 / 4123-1
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Web page: http://www.hced.uni-hamburg.de/

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