Economics at your fingertips  

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

Yong Chen (), Elena Irwin (), Ciriyam Jayaprakash () and Kyoung Jin Park ()
Additional contact information
Elena Irwin:
Ciriyam Jayaprakash:

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
References: Add references at CitEc
Citations: 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 2021-04-02
Handle: RePEc:jas:jasssj:2018-125-3