Location decisions under uncertainty and the urban model |
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Authors: | Yannis M Ioannides |
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Institution: | Boston University, Boston, MA 02215, USA |
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Abstract: | This letter uses a simple urban model to analyze the impact of random transportation costs on residential location decisions of households. It is shown that such uncertainty steepens the fall of land prices with distance from the CBD and can, in a specific example, cause an increase in optimal city size. |
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