Value of accessibility to Bogotá's bus rapid transit system

Autor:	Daniel A. Rodriguez, Felipe Targa
Rok vydání:	2004
Předmět:	geography geography.geographical_feature_category business.industry Rapid transit Transportation Urban area Walking time Transport engineering Renting Urban planning Public transport Value engineering business Bus rapid transit
Zdroj:	Transport Reviews. 24:587-610
ISSN:	1464-5327 0144-1647
DOI:	10.1080/0144164042000195081
Popis:	With several successful cases world‐wide, bus rapid transit (BRT) has reemerged as a cost‐effective transportation alternative for urban mobility. Despite the resurgence of BRT, there is a world‐wide paucity of research examining its ability to spur and development. By estimating spatial hedonic price functions, the paper determines the extent to which access to BRT stations in Bogota, Colombia, currently are capitalized into land values. Results suggest that for every 5 min of additional walking time to a BRT station, the rental price of a property decreases by between 6.8 and 9.3%, after controlling for structural characteristics, neighbourhood attributes and proximity to the BRT corridor. Evaluated at the average walking time to a BRT station, this effect translates into an elasticity of between − 0.16 and − 0.22. Although these estimates cannot be attributable directly to the presence of the BRT system because a cross‐sectional design is used, they suggest that the land market in Bogota values access ...
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::04af2e18352699711f6ab934a6b8580f https://doi.org/10.1080/0144164042000195081 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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