Seminars & Events
APL (Ajiken Power Lunch)
Shopping externalities and retail concentration:Evidence from Dutch shopping streets
APL
(Ajiken
Power
Lunch)
is
a
lunchtime
workshop
open
to
public,
including
IDE
staffs,
visiting
research
fellows,
IDEAS
students,
outside
researchers
and
graduate
students.
This
workshop
provides
a
platform
for
presentation
of
any
work
in
progress
where
we
can
discuss
in
either
English
or
Japanese.
Those
who
would
attend
a
seminar
are
asked
to
announce
yourself
to
receptionists
on
your
arrival
at
the
IDE
and
to
obtain
APL
Organizers'
signature
on
your
admission
card
after
the
seminar.
Date&time:
May 11, 2017. (Friday) 12：30-13：00
Venue:
Theme:
Shopping externalities and retail concentration:Evidence from Dutch shopping streets
Abstract
Why
do
shops
agglomerate
in
shopping
districts?
According
to
theory,
shops
benefit
from
shopping
externalities,
generated
by
consumers'
'trip‐chaining'
behaviour
and
lower
search
costs.
We
identify
shopping
externalities
in
the
full
population
of
main
shopping
streets
of
the
Netherlands
by
estimating
the
effect
of
footfall
–
the
daily
number
of
pedestrians
that
pass
by
–
on
shop
rents
and
vacancy
rates,
which
together
determine
the
store
owner’s
rental
income.
We
address
endogeneity
issues
by
exploiting
spatial
differences
of
footfall
between
intersecting
streets.
Our
estimates
imply
an
elasticity
of
rental
income
with
respect
to
footfall
of
0.25.
The
shop's
marginal
benefit
of
a
pedestrian
passing
by
is
€
0.004.
Our
results
imply
substantial
subsidies
to
either
retail
firms
or
store
owners
in
main
shopping
streets.
On
average,
a
subsidy
to
store
owners
of
10
percent
of
the
rent
is
welfare
optimal,
but
the
optimal
subsidy
to
retail
firms
that
generate
above‐average
footfall
levels
is
substantially
higher.
Speaker：
Hans Koster (APL External)
Languages:
English
IMAI Kohei E-mail：kohei_imai
TSUBURA Machiko E-mail：Machiko_Tsubura
ASUYAMA Yoko E-mail：yoko_asuyama