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| Author: | Turnbull, G. |
| Title: | Revealed preference and location choice |
| Journal: | Journal of Urban Economics
1997 : MAY, VOL. 41:3, p. 358-376 |
| Index terms: | URBAN AREAS ECONOMICS LOCATION PROBLEM |
| Language: | eng |
| Abstract: | The assumption that population and structural densities are defined over parcels of land with zero area is problematic when interpreting the standard residential land use model as approximating a large finite economy. This paper extends revealed preference theory to depict a spatial economy with land parcels of finite area. The model generalizes the standard utility function approach, allowing for many consumer types with different tastes and incomes and labor-leisure choice, to show that the most important predictions of the standard theory hold in the general finite framework studied here. |
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