Agent-based joint model of residential location choice and real estate price for land use and transport model
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Residential location choice and real estate price are jointly modeled based on agent-based simulation.

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The joint model (RLC–REP) incorporates the prospect theory to simulate the residential choice behavior of buyers.

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The RLC–REP model serves as an essential component of agent-based land use and transport model (SelfSim).

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The RLC–REP model is tested in a real-life scenario, exhibiting a satisfactory performance.

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