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1、本科畢業(yè)設(shè)計(jì)（論文）外文翻譯原文：GeographicalexternalitiesoflocalrealestatemarketsOneofthemainobjectivesofpropertymarketanalysishasbeentounderstandpatternsoflocation.Whydofirmsoccupyspaceinsomeplacesandnotinothers?Ithasalwaysbeenassumedthatthereisaspatialdimensiontotheaccom
2、modationdecisionandthatthisresultsinsomelocationsbeingfavouredoverothers,emphasizing,theirpopularity.Twocountervailinginfluencesdominatecurrentthinkingonlocation.Ontheonehand,thereistheavailabilityandcostoflandasafactorofproductionand,ontheother,therearethee
3、conomiesofscaleinthelabourmarketthatcanbeachievedthroughagglomerationandconcentration.Littleornothoughtisgiventotheinteractionbetweenlocalrealestatemarkets.Traditionally,ithasbeenthoughtthatthesemarketsnaturallyachieveequilibrium,withrentlevelsdeterminedbyth
4、escarcityofofferedspacerelativetodemand.Rentsareusuallyregardedasafunctionofthesizeofacityandthedistanceofalocationfromthecitycentreand/orfromothercities.However,recentanalysisofrealestatemarketshasshowthattheyarerarely,ifever,inequilibrium.Withmarketfundame
5、ntalschangingcontinuously,equilibriumisnowconsideredtobetheexceptionratherthantherule.Thepaperaddressesthefollowingquestions.Dolocalmarketscompetewitheachotherintheprocessofachievinginternalequilibrium?Dolocalplanningdecisionshaveanimpactonsubjectorothermark
6、ets(andviceversa)andwhatwouldthatimpactbe?Whatistheprecisepatternofinfluencesintenancyandinvestmentpricingandhowthiscanbecapturedinanalyticalandforecastingmodels?Therehasbeenlittlethinkingonhowlocalpropertymarketsmaybedifferentiated,orwhattheimplicationsofth
7、atmightbe.Traditionally,differenceshavebeenthoughtofinasimplespatialsense,asamatterofdistancefromothercentres,marketsize,andindividualcharacteristicsofthelabourforce.Thisisthewayinwhichsuburbanlocationshavebeenviewed.Whiletheexistenceofcentrallyemitted“rippl
8、eeffects”hasbeenacknowledged,nocoherentexplanationofageneralisednetworkofcross-marketinfluenceshasbeenoffered.Localmarketshavetendedtobeanalysedseparatelyandportrayedasfollowingdistincttrajector
