Read through the first two sections of the “Paradise Lost and Regained: Transportation Innovation, Income and Residential Location”, by Stephen LeRoy and Jon Sonstelie. Found here: http://econ.ucsb.edu/~jon/Publications/ParadiseLost.pdf
Then answer the following 2 prompts and upload it to iLearn by Tuesday, February 16th at 8:00 AM.
1) What assumption in our monocentric city model does this paper aim to change? Explain the “real life” events that are causing it to change.
2) The “real life” events the authors talk about occurred in the mid-1900s. Can you think of any recent changes that might be changing the way we should think about the assumption you identified in part 1 of this question? Write a few sentences about how you think it would change things.
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