Incorporating Price Expectations into Developers’ Behaviour in UrbanSim

UrbanSim is a simulation framework that facilitates the evaluation of land and transportations policies in the housing and land markets. Current approaches in the UrbanSim, being developed through CHMC to represent the Greater Toronto Horseshoe, do not consider price expectation formation in land and housing market models. The goal of this research project is to incorporate the price expectation formation strategies into the developers behaviours in the UrbanSim system. The proposed model will evaluate the impact of different strategies on the decision-making processes of developers in the land and housing markets. The study will use development proforma paradigm to formulate a model to emulate the developers decision process. The proposed model will be calibrated and tested using open parcel data of the City of Toronto. The model will be used to compare the simulation scenarios with and without the expectation strategies.

Faculty Supervisor:

Dawn Cassandra Parker

Student:

Partner:

Canada Mortgage and Housing Corporation (Ottawa, ON)

Discipline:

Sociology

Sector:

Public administration

University:

University of Waterloo

Program: