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Rent‐Commuting Cost Function Versus Rent‐Distance Function
Author(s) -
Kwon Youngsun
Publication year - 2002
Publication title -
journal of regional science
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.171
H-Index - 79
eISSN - 1467-9787
pISSN - 0022-4146
DOI - 10.1111/1467-9787.00281
Subject(s) - stylized fact , function (biology) , economics , microeconomics , econometrics , macroeconomics , biology , evolutionary biology
This paper develops a new way to present standard urban models graphically and a new rent function called the rent‐commuting cost function. The rent‐commuting cost function represents the relationship between rent and total commuting cost. At least theoretically, it is superior to the traditional rent‐distance function in depicting and measuring stylized facts of the city because its gradient is independent of the functional form of the commuting cost function and falls as household income rises.