Microsimulation of Residential Land Development and Household Location Choices: The Bidding Process for the Case of Austin, Texas

This paper will investigate single-family residential development for housing market equilibria using microeconomic theory and disaggregate spatial data. A logit model and notions of price competition are used to simulate household location choices in six different scenarios, with either one or multiple employment center(s) and with low, medium and high value-of-travel-time assumptions. Consistent with bid-rent theory, housing market equilibrium for each scenario was reached in an iterative fashion. The spatial allocation of new households in the region of Austin, Texas illustrates the potential shape of things to come, with endogenously determined home prices and demographic distributions, based on job access. As expected, positive spatial autocorrelation in home prices and household distributions are observed.

• Corporate Authors:

  World Conference on Transport Research Society

  Secretariat, 14 Avenue Berthelot
  69363 Lyon cedex 07,   France 
• Authors:
  • Zhou, Bin
  • Kockelman, Kara M
• Conference:
  • 11th World Conference on Transport Research
  • Location: Berkeley CA, United States
  • Date: 2007-6-24 to 2007-6-28
• Publication Date: 2007

Language

• English

Media Info

• Media Type: CD-ROM
• Features: Figures; References; Tables;
• Pagination: 16p
• Monograph Title: 11th World Conference on Transport Research

Subject/Index Terms

• TRT Terms: Demographics; Households; Housing; Microsimulation; Real estate development; Residential location; Travel time; Value of time
• Uncontrolled Terms: Housing development
• Geographic Terms: Austin (Texas)
• Subject Areas: Highways; Planning and Forecasting; Society; I72: Traffic and Transport Planning;

Filing Info

• Accession Number: 01124145
• Record Type: Publication
• Files: TRIS
• Created Date: Mar 16 2009 7:22AM