EXAMINING POLICY IMPLICATIONS OF LOCATION EFFICIENCY AS A KEY CONCEPT IN TOD IMPLIMENTATION

Abstract

City compaction policies require three elements, spatial vision, institutional system, and evaluation framework. TOD is an integrated policy of land-use and transportation which emphasizes residents' accessibility. This study focuses on the institutional system and evaluation framework of TOD. It is clarified that location efficiency is becoming a key concept in TOD implementation. This concept evaluates a freedom of individuals' multi-dimensional choices and promotes market interaction and networking in transit-areas and comprehensive improvement of service/housing/investment opportunities. Through a modelling of households' multi-dimensional residential choice, it is shown that location efficiency can be formulated as an indicator directly linked to QoL maximization.