Abstract
During the last years the number of cities that have installed and started operating shared bike systems has significantly increased. These systems provide an alternative and sustainable mean of transportation to the city dwellers. Apart from the energy sustainability benefits, shared bike systems can have a positive effect on residents’ health, air quality and the overall condition of the currently crumbling road network infrastructure. Anecdotal stories and survey studies have also identified that bike lanes have a positive impact on local businesses. In this study, driven by the rapid adoption of shared bike systems by city governments and their potential positive effects on a number of urban life facets we opt to study and quantify the value of these systems. We focus on a specific aspect of this value and use evidence from the real estate market in the city of Pittsburgh to analyze the effect on dwellers’ properties of the shared bike system installed in the city in June 2015. We use quasi-experimental techniques and find that the shared bike system led to an increase in the housing prices (both sales and rental prices) in the zip codes where shared bike stations were installed. We further bring into the light potential negative consequences of this impact (i.e., gentrification) and discuss/propose two public policies that can exploit the impact of the system for the benefit of both the local government as well as the city dwellers.
| Original language | English (US) |
|---|---|
| Article number | e0184092 |
| Journal | PLoS One |
| Volume | 12 |
| Issue number | 8 |
| DOIs | |
| State | Published - Aug 1 2017 |
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ASJC Scopus subject areas
- Biochemistry, Genetics and Molecular Biology(all)
- Agricultural and Biological Sciences(all)
Cite this
Economic impact and policy implications from urban shared transportation : The case of Pittsburgh’s shared bike system. / Pelechrinis, Konstantinos; Zacharias, Christos; Kokkodis, Marios; Lappas, Theodoros.
In: PLoS One, Vol. 12, No. 8, e0184092, 01.08.2017.Research output: Contribution to journal › Article
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TY - JOUR
T1 - Economic impact and policy implications from urban shared transportation
T2 - The case of Pittsburgh’s shared bike system
AU - Pelechrinis, Konstantinos
AU - Zacharias, Christos
AU - Kokkodis, Marios
AU - Lappas, Theodoros
PY - 2017/8/1
Y1 - 2017/8/1
N2 - During the last years the number of cities that have installed and started operating shared bike systems has significantly increased. These systems provide an alternative and sustainable mean of transportation to the city dwellers. Apart from the energy sustainability benefits, shared bike systems can have a positive effect on residents’ health, air quality and the overall condition of the currently crumbling road network infrastructure. Anecdotal stories and survey studies have also identified that bike lanes have a positive impact on local businesses. In this study, driven by the rapid adoption of shared bike systems by city governments and their potential positive effects on a number of urban life facets we opt to study and quantify the value of these systems. We focus on a specific aspect of this value and use evidence from the real estate market in the city of Pittsburgh to analyze the effect on dwellers’ properties of the shared bike system installed in the city in June 2015. We use quasi-experimental techniques and find that the shared bike system led to an increase in the housing prices (both sales and rental prices) in the zip codes where shared bike stations were installed. We further bring into the light potential negative consequences of this impact (i.e., gentrification) and discuss/propose two public policies that can exploit the impact of the system for the benefit of both the local government as well as the city dwellers.
AB - During the last years the number of cities that have installed and started operating shared bike systems has significantly increased. These systems provide an alternative and sustainable mean of transportation to the city dwellers. Apart from the energy sustainability benefits, shared bike systems can have a positive effect on residents’ health, air quality and the overall condition of the currently crumbling road network infrastructure. Anecdotal stories and survey studies have also identified that bike lanes have a positive impact on local businesses. In this study, driven by the rapid adoption of shared bike systems by city governments and their potential positive effects on a number of urban life facets we opt to study and quantify the value of these systems. We focus on a specific aspect of this value and use evidence from the real estate market in the city of Pittsburgh to analyze the effect on dwellers’ properties of the shared bike system installed in the city in June 2015. We use quasi-experimental techniques and find that the shared bike system led to an increase in the housing prices (both sales and rental prices) in the zip codes where shared bike stations were installed. We further bring into the light potential negative consequences of this impact (i.e., gentrification) and discuss/propose two public policies that can exploit the impact of the system for the benefit of both the local government as well as the city dwellers.
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U2 - 10.1371/journal.pone.0184092
DO - 10.1371/journal.pone.0184092
M3 - Article
C2 - 28859121
AN - SCOPUS:85028847705
VL - 12
JO - PLoS One
JF - PLoS One
SN - 1932-6203
IS - 8
M1 - e0184092
ER -