Existence and uniqueness of equilibrium and optimal land use: Boundary rent curve approach |
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Authors: | Masahisa Fujita |
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Affiliation: | University of Pennsylvania, Philadelphia, PA 19104, USA |
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Abstract: | This paper presents a simple constructive proof of the existence and uniqueness of the equilibrium or optimal solution for a class of residential land use problems. Our approach is based on the concept of boundary rent curves, and provides a direct computational algorithm. Although our approach works only for a limited class of problems, the most land use problems for which definite results can be obtained from comparative statics or stability analysis are included in this class. |
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