no13-18

[14] A two-sided market model of land responsive to changes in site choices associated with urban
development

○Risa Kobayashi¹, Eiji Hato¹ (1. The University of Tokyo)

Keywords:Land-transportation interaction model, Recursive Logit Model, Structural Estimation

We develop a model of the interaction between land transactions and destination choice in a trip chain observed in micro-regional scale location data. Proposed models consist of three subset models: a seller-buyer matching model based on a discrete choice model and a sequential pedestrian location choice model. In the seller-buyer interaction, there is mutual inference for buying and selling by introducing the estimated amount of purchase and estimated amount of sale into the utility function. We confirmed that the model can be estimated by structural estimation using pedestrian behavior data and real estate registration information, enabling us to observe transactions simultaneously.