Summary Urban Economics and Planning models Semester 2 revision
11 views 0 purchase
Course
Urban Economics and Planning - Models
Institution
Universiteit Leiden (UL)
Book
Urban Economics (Ninth Edition)
The document has a look at all the graphs you should know for your Urban Economics and Planning exam. It includes definitions, influential factors and assumptions. Great for revision.
Contents
Chapter 10...........................................................3
Figure 10-1: Willingness to Pay for Agricultural Land....................................3
Figure 10-3: Manufacturing Rent in a Horse Cart City...................................4
Figure 10-4: Manufacturing Rent in a Truck City...........................................4
Figure 10-5: Manufacturing Land Rent in Beltway City..................................5
Figure 11-2: location and the Willingness to pay or Office Space..................6
Figure 11-3 Willingness to Pay and Commuting Mode..................................6
Figure 11-7: Greater accessibility Generates a Taller Building and a Higher
Land Price.......................................................................................................7
Figure 11-6 Willingness to pay for Office Land...............................................7
Figure 11-8: Isoquant for an Office Building...................................................8
Chapter 12...........................................................9
Figure 12-3: A Decrease in Commuting Cost Increases the Housing Price for
Nash Equilibrium............................................................................................9
Figure 12-10: Lower Crime and Higher Housing Price for Nash Equilibrium
......................................................................................................................11
Chapter 16.........................................................12
Figure 16-3: The Market Effects of a Limit on Building Permits...................12
Figure 16-4: Market Effects of a Development Tax......................................13
Figure 16-5: Growth Boundary and the Housing Market.............................14
Figure 16-6: Growth Boundary and the Land Market..................................15
Chapter 17.........................................................16
, Figure 17-7: Value of Public Housing............................................................16
......................................................................................................................16
Chapter 18.........................................................18
Figure 18-2: Equilibrium versus Efficient Outcome......................................18
Figure 18-4: Gains and Losses from a Congestion Tax: Road User..............19
Figure 18-12: Traffic Accidents and Efficiency..............................................20
Chapter 19.........................................................21
Figure 19-5: Pricing for Transit: Efficiency versus Budget Balancing...........21
Chapter 20.........................................................22
Figure 20-2: Voter Disagreement.................................................................22
Chapter 21.........................................................23
Figure 21-8: Response to a Matching Grant.................................................23
Chapter 23.........................................................24
Figure 23-3: Expected Utility From Crime....................................................24
Figure 23-8: Probability of Success and Crime.............................................25
, Models:
Chapter 10
Figure 10-1: Willingness to Pay for Agricultural Land
Defining the graph:
¿
- p is the national price of corn
¿
- q is the quantity at which the farmer maximises profit
o Where marginal revenue equals marginal cost.
¿
- ac is the average cost
¿ ¿ ¿
- The area between p and ac and q is the profit rectangle.
o The area in the rectangle represents the total economic profit
Influential Factors:
- Level of fertility
o Marginally fertile land will push the ac ¿up and move the q ¿ to the left resulting in
the decrease in profit.
Assumptions:
- We assume that the bid for land will be equal to the economic profit.
- Perfect competition in the output market. Farmers are price takers, and economic profit is zero in
the long run.
- Common input prices. The prices of non-land inputs (materials, labour, capital) are the same
throughout the region.
- Land to highest bidder. Landowners rent land to the highest bidder.
- Zero transport costs. Transport costs are zero.
- National prices. All prices are determined in the national market and are unaffected by events in
the region.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller aukebrongersma. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.05. You're not tied to anything after your purchase.
