Monocentric_part1 - Econ 4 Moncentric Model of the City...

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Econ 4621–1/22/04 Moncentric Model of the City Explicit model of the internal structure of a city Developed in 1960s by Alonzo and Mills Monocentric structure is at odds with current structure of cities.
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But... Can use the model to understand what changed Model remains useful abstraction for understanding the inter- play of important forces Can use the model as a vehicle for understanding qualitative impacts of policy changes (e.g. urban growth boundaries ) The building blocks of the model are very much alive in cutting edge research (e.g. Lucas and Rossi-Hansberg, Econometrica , 2002)
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Model (corresponds to residential model in text, p. 177) Land is line, CBD is at zero. H is number of individuals. All are identical All individuals work in the CBD u a location, a distance u from CBD.
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w is wage t is commuting cost per unit distance, dollars per mile (so not in time units) U ( x, L ) is utility function x is widgets, non-land consumption L is land consumption –Assume utility function has usual properties (e.g. quasi-concave
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