Isobenefit Lines, Breaking Point of equal attraction, Uniformity Benefit, Variety Value and Proximity Value, Preference Gap Gain

TL;DR

This paper introduces Isobenefit Lines and Preference Gap Gain as tools for analyzing land value, attractiveness, and individual preferences in urban and geographic economic contexts, with implications for location theory and property markets.

Contribution

It proposes a novel framework combining Isobenefit Lines and Preference Gap Gain to quantify individual and collective land value and attractiveness.

Findings

Isobenefit Lines applicable in urban and geographic economics.

Preference Gap Gain quantifies individual advantage in property choices.

Framework links land value to attractiveness and personal preferences.

Abstract

Isobenefit Lines can offer a certain range of applicability in Location Theory and Gravitational Models for Urban and Geography Economics, in positional decision processes made by citizens, and, last but not least, in land value and property market theories and analysis. The value of a land, or a property, in a generic k point, is, ceteris paribus, the mirror of the quality, attractiveness, benefit characterizing k. Preference Gap Gain (PGG) of a person, is the difference between his Personal Isobenefit Lines and that of the majority of people. In monetary terms, when buying or renting a property, it can become an economic gain or vice versa, and PGG localizes and quantifies this gain.