An Agent Based Model of a Thinly Traded Land Market in an Urbanizing Region

Yong Chen (), Elena Irwin (), Ciriyam Jayaprakash () and Kyoung Jin Park ()
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Elena Irwin: https://aede.osu.edu/our-people/elena-irwin
Ciriyam Jayaprakash: https://physics.osu.edu/people/jayaprakash.1

Journal of Artificial Societies and Social Simulation, 2021, vol. 24, issue 2, 1

Abstract: We have developed a model of a multi-period agent-based land market based on the theory of thinly traded land markets. This new model builds upon the stylized fact that land demand (supply) decreases (increases) across the urban-rural gradient. The effect of heterogeneous amenities are also included in the model. We simulated the model for a growing urbanizing region and investigated the evolution of land development patterns. We found that this simple model can replicate/reproduce many interesting observed features. For instance, scattered development can emerge in transitory periods due to the land demand (supply) decreases (increases) over the urban-rural gradient. Furthermore, increases in transportation costs and the number of in-migrants tend to decrease both the intensity and persistence of scattered development.

Keywords: Scattered Development; Leapfrog; Land Use; Amenities; Spatial Competition; Auction (search for similar items in EconPapers)
Date: 2021-03-31
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Persistent link: https://EconPapers.repec.org/RePEc:jas:jasssj:2018-125-3

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