Interlocking Global Business Systems: The Restructuring of Industries, Economies and Capital Markets

By Edward B. Flowers; Thomas P. Chen et al. | Go to book overview

1971), Goodman ( 1978, 1988) and Palmquist ( 1984) included both socioeconomic status and race ratio variables in their regression equations. Which neighborhood variables should be included in the regression depends not only on the researcher's interests and emphasis but also on the social background of a country or city. For two reasons, this study includes only the educational level of adults and population density as neighborhood variables. First, more than 98% of the population of Taiwan is of identical race and the country has no racial problem. Second, the quality of elementary and junior high schools plays no significant role on households' choice of location for a dwelling unit, since regulations on school district boundaries are not strictly enforced in this country. Regarding the distance variable, previous researchers used linear, quadratic or exponential functions for distance, implicitly assuming that the city is monocentric, with a single CBD. As a result, the estimated coefficient became insignificant since most modern cities contain more than one business or cultural center. We believe that the essence of accessibility to CBD in the monocentric model is correct but that its assumptions are unrealistic. People do value access, but they might significantly value access to places other than the CBD. Holding all other characteristics of a dwelling unit constant, the price gradient should fall when the distance to a major employment center, which may not be the CBD, increases. To reflect the multiple centers in the Taichung area, a linear spline function on the distance variable will be used in this study to show the complexity of determining housing price.


ESTIMATION

Model Specification

The use of spline functions ( Suits, Mason and Chan, 1978) enables us to present a complex functional form in a simple manner and to identify any local extremes in the price gradient. The equation for estimation of housing price by incorporating a linear spline function is shown as below:

(13.1)

where

s.t. ai+1 = ai + bi(X + ̄i+1-X + ̄i) for all i (13.2)

P = selling price of dwelling X = distance from the CBD X + U+304i = beginning value of X for interval i

-250-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Interlocking Global Business Systems: The Restructuring of Industries, Economies and Capital Markets
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 308

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.