This Article Full Text (PDF) References Alert me when this article is cited Alert me if a correction is posted Services Email this article to a friend Similar articles in this journal Alert me to new issues of the journal Add to Saved Citations Download to citation manager Request Permissions Request Reprints Add to My Marked Citations Citing Articles Citing Articles via Google Scholar Google Scholar Articles by McCann, P. Search for Related Content Social Bookmarking                   What's this?

Journey and Transactions Frequency: An Alternative Explanation of Rent-gradient Convexity

Regional Science Department, University of Pennsylvania, 130 McMeil Building, 3718 Locust Walk, Philadelphia, PA19104-6209, USA

This paper contends that in many real-world situations, the frequency with which transactions take place is central to the relationship between land prices and location. It will therefore be argued that an approach which makes the transactions and journey frequency endogenous to the cost problem is the correct way in which time should be incorporated into many urban rent-distance models. Under these conditions, it can be shown that a convex distance-rent gradient can be generated without the need for the assumption of a convex indifference curve or isoquant. Furthermore, in many such cases, the convex distance-rent curve can be shown to exist irrespective of whether transport costs are concave, linear or greater than linear with distance. Real examples will be used to illustrate the problem.

CiteULike    Connotea    Del.icio.us    Digg    Reddit    Technorati    What's this?