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

Gabriel Ahlfeldt

No 12, Working Papers from Chair for Economic Policy, University of Hamburg

Abstract: 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.

Keywords: Market Access; Employment Access; Land Values; Polycentric City; Urban Transport; Alonso (search for similar items in EconPapers)
JEL-codes: R12 R23 R42 R52 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (18)

Published in Hamburg Contemporary Economic Discussions, Issue 12, 2007

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http://www.hced.uni-hamburg.de/WorkingPapers/HCED_12.pdf First version, 2007 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:hce:wpaper:012

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