Agent-based land markets: Heterogeneous agents, land prices and urban land use change

Tatiana Filatova; Dawn C. Parker; Anne van der Veen

Agent-based land markets: Heterogeneous agents, land prices and urban land use change

Tatiana Filatova^*, Dawn C. Parker, Anne van der Veen

^*Corresponding author for this work

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific › peer-review

16 Citations (SciVal)

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.

Original language	English
Title of host publication	Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007
Editors	Frederic Amblard
Publisher	The European Social Simulation Association (ESSA)
Pages	263-275
Number of pages	13
ISBN (Electronic)	9782952032674
Publication status	Published - 2007
Externally published	Yes
Event	4th Annual Conference of the European Social Simulation Association, ESSA 2007 - Toulouse, France Duration: 10 Sept 2007 → 14 Sept 2007

Publication series

Name	Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007

Conference

Conference	4th Annual Conference of the European Social Simulation Association, ESSA 2007
Country/Territory	France
City	Toulouse
Period	10/09/07 → 14/09/07

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 15 Life on Land

Keywords

Division of gains from trade
Heterogeneous agents
Open-space amenities
Urban land market

Cite this

Filatova, T., Parker, D. C., & van der Veen, A. (2007). Agent-based land markets: Heterogeneous agents, land prices and urban land use change. In F. Amblard (Ed.), Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007 (pp. 263-275). (Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007). The European Social Simulation Association (ESSA).

Filatova, Tatiana ; Parker, Dawn C. ; van der Veen, Anne. / Agent-based land markets : Heterogeneous agents, land prices and urban land use change. Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007. editor / Frederic Amblard. The European Social Simulation Association (ESSA), 2007. pp. 263-275 (Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007).

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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",

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Filatova, T, Parker, DC & van der Veen, A 2007, Agent-based land markets: Heterogeneous agents, land prices and urban land use change. in F Amblard (ed.), Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007. Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007, The European Social Simulation Association (ESSA), pp. 263-275, 4th Annual Conference of the European Social Simulation Association, ESSA 2007, Toulouse, France, 10/09/07.

Agent-based land markets: Heterogeneous agents, land prices and urban land use change. / Filatova, Tatiana; Parker, Dawn C.; van der Veen, Anne.
Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007. ed. / Frederic Amblard. The European Social Simulation Association (ESSA), 2007. p. 263-275 (Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007).

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific › peer-review

TY - GEN

T1 - Agent-based land markets

T2 - 4th Annual Conference of the European Social Simulation Association, ESSA 2007

AU - Filatova, Tatiana

AU - Parker, Dawn C.

AU - van der Veen, Anne

PY - 2007

Y1 - 2007

N2 - 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.

AB - 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.

KW - Division of gains from trade

KW - Heterogeneous agents

KW - Open-space amenities

KW - Urban land market

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M3 - Conference contribution

AN - SCOPUS:56249091516

T3 - Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007

SP - 263

EP - 275

BT - Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007

A2 - Amblard, Frederic

PB - The European Social Simulation Association (ESSA)

Y2 - 10 September 2007 through 14 September 2007

ER -

Filatova T, Parker DC, van der Veen A. Agent-based land markets: Heterogeneous agents, land prices and urban land use change. In Amblard F, editor, Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007. The European Social Simulation Association (ESSA). 2007. p. 263-275. (Proceedings of the 4th Conference of the European Social Simulation Association, ESSA 2007).

Agent-based land markets: Heterogeneous agents, land prices and urban land use change

Abstract

Publication series

Conference

UN SDGs

Keywords

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