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Agent Based Exploration of Urban Economic Dynamics Under the Rent-Gap Hypotheses

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Multi-Agent-Based Simulation XV (MABS 2014)

Part of the book series: Lecture Notes in Computer Science ((LNAI,volume 9002))

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Abstract

We present a stylised agent-based model of housing investment based on the rent gap theory proposed by the late Neil Smith. We couple Smith’s supply-side approach to investment, with individual-level residential mobility within a city. The model explores the impact of varying levels of capital flowing in the city and reproduces certain theorised and observed dynamics emerging from the cyclic nature of investment: the tendency of capital to spatially concentrate generating intra-urban inequalities, the occasional formation of persistent pockets of disinvestment and phenomena such as gentrification.

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Author information

Authors and Affiliations

  1. Centre for Policy Modelling, MMU, All Saints Campus, Manchester, M15 6BH, UK

    Stefano Picascia & Bruce Edmonds

  2. School of Geography, University of Leeds, Leeds, LS2 9JT, UK

    Alison Heppenstall

Authors
  1. Stefano Picascia
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  2. Bruce Edmonds
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  3. Alison Heppenstall
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Corresponding author

Correspondence to Stefano Picascia .

Editor information

Editors and Affiliations

  1. Universitat de València, Burjassot-València, Spain

    Francisco Grimaldo

  2. Manchester Metropolitan University, Manchester, United Kingdom

    Emma Norling

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Picascia, S., Edmonds, B., Heppenstall, A. (2015). Agent Based Exploration of Urban Economic Dynamics Under the Rent-Gap Hypotheses. In: Grimaldo, F., Norling, E. (eds) Multi-Agent-Based Simulation XV. MABS 2014. Lecture Notes in Computer Science(), vol 9002. Springer, Cham. https://doi.org/10.1007/978-3-319-14627-0_15

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  • DOI: https://doi.org/10.1007/978-3-319-14627-0_15

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-319-14626-3

  • Online ISBN: 978-3-319-14627-0

  • eBook Packages: Computer ScienceComputer Science (R0)

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