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Title:If Alonso was right: accessibility as determinant for attractiveness of urban location PDF Logo
Authors:Ahlfeldt, Gabriel M.
Issue Date:2007
Series/Report no.:Hamburg contemporary economic discussions 12
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.
Subjects:Market Access
Employment Access
Land Values
Polycentric City
Urban Transport
Alonso
JEL:R12
R23
R42
R52
ISBN:978-3-940369-39-0
Document Type:Working Paper
Appears in Collections:Hamburg Contemporary Economic Discussions, Lehrstuhl für Wirtschaftspolitik, Universität Hamburg

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