The bid rent theory is a geographical economic theory that refers to how the price and demand for real estate change as the distance from the central business district (CBD) increases. Bid rent theory was developed by William Alonso in 1964, it was extended from the von Thünen model, who analyzed agricultural land use.
The bid rent theory is a geographical economic theory that refers to how the price and demand for real estate change as the distance from the central business district (CBD) increases. Bid rent theory was developed by William Alonso in 1964, it was extended from the von Thünen model, who analyzed agricultural land use.
Source: Wikipedia "Bid rent theory" · CC BY-SA 4.0
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