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Journey and Transactions Frequency: An Alternative Explanation of Rent-gradient Convexity

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  • Philip McCann

    (Regional Science Department, University of Pennsylvania, 130 McMeil Building, 3718 Locust Walk, Philadelphia, PA19104-6209, USA)

Abstract

This paper contends that in many real-world situations, the frequency with which transactions take place is central to the relationship between land prices and location. It will therefore be argued that an approach which makes the transactions and journey frequency endogenous to the cost problem is the correct way in which time should be incorporated into many urban rent-distance models. Under these conditions, it can be shown that a convex distance-rent gradient can be generated without the need for the assumption of a convex indifference curve or isoquant. Furthermore, in many such cases, the convex distance-rent curve can be shown to exist irrespective of whether transport costs are concave, linear or greater than linear with distance. Real examples will be used to illustrate the problem.

Suggested Citation

  • Philip McCann, 1995. "Journey and Transactions Frequency: An Alternative Explanation of Rent-gradient Convexity," Urban Studies, Urban Studies Journal Limited, vol. 32(9), pages 1549-1556, November.
    • Handle: RePEc:sae:urbstu:v:32:y:1995:i:9:p:1549-1556
    DOI: 10.1080/00420989550012401
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    References listed on IDEAS

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    1. Fujita,Masahisa, 1991. "Urban Economic Theory," Cambridge Books, Cambridge University Press, number 9780521396455, September.
    2. Philip McCann, 1995. "Rethinking the Economics of Location and Agglomeration," Urban Studies, Urban Studies Journal Limited, vol. 32(3), pages 563-577, April.
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    Cited by:

    1. Steven Bond-Smith & Philip McCann, 2022. "The work-from-home revolution and the performance of cities," Working Papers 2022-6, University of Hawaii Economic Research Organization, University of Hawaii at Manoa.
    2. Frederick Guy, 2013. "Small, Local and Cheap? Walkable and Car-oriented Retail in Competition," Spatial Economic Analysis, Taylor & Francis Journals, vol. 8(4), pages 425-442, February.
    3. SHEVCHIK Natalya, 2010. "The Performance of Kazakhstani Industrial Enterprises by Location," EcoMod2003 330700135, EcoMod.
    4. Philip McCann, 1995. "On Regional Science: Some Thoughts from a Recent Observer," International Regional Science Review, , vol. 18(2), pages 249-252, April.
    5. David C. Maré & Andrew Coleman & Ruth Pinkerton, 2011. "Patterns of population location in Auckland," Working Papers 11_06, Motu Economic and Public Policy Research.

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