@inproceedings{b5b9af5260f446fab77f1087f0cf58e9,
title = "Agent-based land markets: Heterogeneous agents, land prices and urban land use change",
abstract = "We construct a spatially explicit agent-based model of a bilateral land market. Heterogeneous agents form their bid and ask prices for land based on the utility that they obtain from a certain location (house/land) and based on the state of the market (an excess of demand or supply). We underline the distinction between bid /ask price and individual willingness to pay/to accept and show that variations between them that reflect market conditions can influence land prices. Agents sort among locations with respect to distance from the city center and environmental spatial externalities. Aggregated outcomes such as land patterns and land prices are produced by the model. The basic model of buyers and sellers trading land in the urban area produces results identical to the monocentric urban model. However, more complex dynamics appears when environmental amenities and market-adjustment variable influence the formation of land prices.",
keywords = "Division of gains from trade, Heterogeneous agents, Open-space amenities, Urban land market",
author = "Tatiana Filatova and Parker, {Dawn C.} and {van der Veen}, Anne",
year = "2007",
language = "English",
series = "Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007",
publisher = "The European Social Simulation Association (ESSA)",
pages = "263--275",
editor = "Frederic Amblard",
booktitle = "Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007",
note = "4th Annual Conference of the European Social Simulation Association, ESSA 2007 ; Conference date: 10-09-2007 Through 14-09-2007",
}
