Directional Land Value Gradients

Directional Land Value Gradients The standard urban model supports the concept of a constant land price gradient throughout the urban area. It is a reasonable conjecture that the land price gradient would vary with direction from the CBD. The variation in the gradient could be caused by a number of factors, but the idea that the land price gradient is flatter along radial transportation routes than in other directions is widely recognized even though there is little rigorous empirical work supporting this belief. This paper will examine the structure of urban land prices with a focus on the land price gradient as a function of the direction around the center of the city using a piecewise linear function. The added flexibility in the gradient estimate gained by this approach reveals a dramatically varying directional land price gradient. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Journal of Real Estate Finance and Economics Springer Journals

Directional Land Value Gradients

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Publisher
Springer US
Copyright
Copyright © 2008 by Springer Science+Business Media, LLC
Subject
Economics; Regional/Spatial Science; Financial Services
ISSN
0895-5638
eISSN
1573-045X
D.O.I.
10.1007/s11146-007-9104-0
Publisher site
See Article on Publisher Site

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