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Value of Accessibility to Bogota's Bus Rapid Transit System

机译：波哥大快速公交系统无障碍获取的价值

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With several successful cases world-wide, bus rapid transit (BRT) has re-emerged as a cost-effective transportation alternative for urban mobility. Despite the resurgence of BRT, there is a world-wide paucity of research examining its ability to spur land development. By estimating spatial hedonic price functions, the paper determines the extent to which access to BRT stations in Bogota, Colombia, currently are capitalized into land values. Results suggest that for every 5min of additional walking time to a BRT station, the rental price of a property decreases by between 6.8 and 9.3%, after controlling for structural characteristics, neighbourhood attributes and proximity to the BRT corridor. Evaluated at the average walking time to a BRT station, this effect translates into an elasticity of between -0.16 and -0.22. Although these estimates cannot be attributable directly to the presence of the BRT system because a cross-sectional design is used, they suggest that the land market in Bogota values access to BRT station locations.
机译：在世界范围内成功案例众多的情况下，快速公交（BRT）已重新成为城市出行的一种经济高效的交通选择。尽管BRT的兴起，但在全世界范围内，缺乏研究来研究其促进土地开发的能力。通过估计空间享乐价格函数，本文确定了目前在哥伦比亚波哥大的BRT车站的出入被资本化为土地价值的程度。结果表明，在控制了结构特征，邻里属性和与BRT走廊的距离之后，每5分钟到BRT车站的步行时间，物业的租金将下降6.8％至9.3％。在到达BRT车站的平均步行时间进行评估，该效果转化为-0.16至-0.22之间的弹性。尽管由于使用了横断面设计，所以这些估计不能直接归因于BRT系统的存在，但它们表明，波哥大的土地市场重视进入BRT车站位置的机会。

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