Economics at your fingertips  

Agent-Based Urban Land Markets: Agent's Pricing Behavior, Land Prices and Urban Land Use Change

Tatiana Filatova (), Dawn Parker and Anne van der Veen ()
Additional contact information
Tatiana Filatova:
Anne van der Veen:

Journal of Artificial Societies and Social Simulation, 2009, vol. 12, issue 1, 3

Abstract: We present a new bilateral agent-based land market model, which moves beyond previous work by explicitly modeling behavioral drivers of land-market transactions on both the buyer and seller side; formation of bid prices (of buyers) and ask prices (of sellers); and the relative division of the gains from trade from the market transactions. We analyze model output using a series of macro-scale economic and landscape pattern measures, including land rent gradients estimated using simple regression models. We first demonstrate that our model replicates relevant theoretical results of the traditional Alonso/Von Thünen model (structural validation). We then explore how urban morphology and land rents change as the relative market power of buyers and sellers changes (i.e., we move from a 'sellers' market' to a 'buyers' market'). We demonstrate that these strategic price dynamics have differential effects on land rents, but both lead to increased urban expansion.

Keywords: Location Choice; Urban Land Market; Agent-Based Computational Economics; Land Use; Land Rent Gradient; Spatial Simulation (search for similar items in EconPapers)
Date: 2009-01-31
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (21) Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in Journal of Artificial Societies and Social Simulation from Journal of Artificial Societies and Social Simulation
Bibliographic data for series maintained by Flaminio Squazzoni ().

Page updated 2020-11-13
Handle: RePEc:jas:jasssj:2008-13-2