Ahfeldt, Gabriel M. (2013) Urbanity. SERC Discussion Papers (SERCDP0136). The London School of Economics and Political Science ,SERC Discussion Paper, London, UK.
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Abstract
I define a composite amenity that provides aesthetic and consumption value to local residents: Urbanity. A novel data set of geo-tagged photos shared in internet communities serves as a proxy for urbanity. From the spatial pattern of house prices and photos I identify the value of urbanity in two of the largest cities in Europe: Berlin and London. I find an elasticity of indirect utility with respect to urbanity of about 1%. The aggregated willingness-to-pay equates to about $1bn per year in each city. The results demonstrate the important role cities play as centers of leisure, consumption, and beauty.
| Item Type: | Monograph (Discussion Paper) |
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| Official URL: | http://rlab.lse.ac.uk/_new/publications/abstract.a... |
| Additional Information: | © 2013 The Author |
| Divisions: | Spatial Economics Research Centre |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HC Economic History and Conditions |
| Date Deposited: | 27 Aug 2014 11:34 |
| Last Modified: | 13 Sep 2024 20:26 |
| Funders: | Economic and Social Research Council, Department for Business, Innovation and Skills (BIS), Welsh Government |
| URI: | http://eprints.lse.ac.uk/id/eprint/59244 |
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