Misbehavioral Urban Economics

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Executive Summary

Applications of the framework of behavioral economics to questions arising from urban economics are discussed. Directions for future research are outlined. A number of fads from economics have percolated to regional science. Some have resulted in new insights, some have not. It is not clear to anyone at the beginning whether these ideas end up as fads or whether they end up affecting research in a substantial way. Are the location decisions of firms and consumers sticky, and if so, why? This seems to be a critical question in the future of misbehavioral urban economics. It can be addressed theoretically, empirically, or in the lab. The goal of this paper is to provoke on several levels, not to provide answers.

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