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1、本科畢業(yè)設(shè)計(jì)（論文）外文翻譯原文：GeographicalexternalitiesoflocalrealestatemarketsOneofthemainobjectivesofpropertymarketanalysishasbeentounderstandpatternsoflocation.Whydofirmsoccupyspaceinsomeplacesandnotinothers?Ithasalwaysbeenassumedthatthereisaspatialdimensiontotheaccommodationdecisionand
2、thatthisresultsinsomelocationsbeingfavouredoverothers,emphasizing,theirpopularity.Twocountervailinginfluencesdominatecurrentthinkingonlocation.Ontheonehand,thereistheavailabilityandcostoflandasafactorofproductionand,ontheother,therearetheeconomiesofscaleinthelabourmarketthatca
3、nbeachievedthroughagglomerationandconcentration.Littleornothoughtisgiventotheinteractionbetweenlocalrealestatemarkets.Traditionally,ithasbeenthoughtthatthesemarketsnaturallyachieveequilibrium,withrentlevelsdeterminedbythescarcityofofferedspacerelativetodemand.Rentsareusuallyre
4、gardedasafunctionofthesizeofacityandthedistanceofalocationfromthecitycentreand/orfromothercities.However,recentanalysisofrealestatemarketshasshowthattheyarerarely,ifever,inequilibrium.Withmarketfundamentalschangingcontinuously,equilibriumisnowconsideredtobetheexceptionratherth
5、antherule.Thepaperaddressesthefollowingquestions.Dolocalmarketscompetewitheachotherintheprocessofachievinginternalequilibrium?Dolocalplanningdecisionshaveanimpactonsubjectorothermarkets(andviceversa)andwhatwouldthatimpactbe?Whatistheprecisepatternofinfluencesintenancyandinvest
6、mentpricingandhowthiscanbecapturedinanalyticalandforecastingmodels?Therehasbeenlittlethinkingonhowlocalpropertymarketsmaybedifferentiated,orwhattheimplicationsofthatmightbe.Traditionally,differenceshavebeenthoughtofinasimplespatialsense,asamatterofdistancefromothercentres,mark
7、etsize,andindividualcharacteristicsofthelabourforce.Thisisthewayinwhichsuburbanlocationshavebeenviewed.Whiletheexistenceofcentrallyemitted“rippleeffects”hasbeenacknowledged,nocoherentexplanationofageneralisednetworkofcross-marketinfluenceshasbeenoffered.Localmarketshavetendedt
8、obeanalysedseparatelyandportrayedasfollowingdistincttrajector
