AN EMPIRICAL STUDY ON THE WILLINGNESS TO PAY FOR RESIDENTIAL LOCATION AND LOCATION CHOICE OF URBAN RESIDENTS IN CHINA
利用独特调查数据，研究中国城市居民对住宅区位的支付意愿与实际选择，发现高收入者仍偏好市中心，且市场力量主导资源配置，但低交易量和信贷配给阻碍了区位选择。
Using the data from a unique survey, this paper examines the willingness to pay for residential location and the actual location choice of urban residents in China. The determinants of willingness-to-pay gradient (WTP') and how to isolate the difference between WTP' and location choice are discussed. Based on theoretical analysis, willingness-to-pay gradient model and location choice model are established and estimated. Empirical results show that higher-income people still prefer to live near the city center. Working place, preference pattern of environment, city size and the infrastructure construction in suburb will all influence WTP' in different ways. Market force has play an important role in the resource allocation of residential location, but the low transaction volume and credit rationing in the mortgage market hinder the location choice of urban residents.