City as Neural Platform - Toward New Economics of a City

44 Pages Posted: 28 Aug 2018

See all articles by Marek Banczyk

Marek Banczyk

Columbia University; Cityglobe Inc.

Jason Potts

RMIT University

Date Written: August 17, 2018

Abstract

We propose and develop a new conceptual framework for the economic analysis of cities, as a contribution toward a new interdisciplinary science of cities. The standard economic analysis of cities is based on a spatial market model of (production, transactional and consumption) externalities in which cities are agglomerative engines of economic growth. The new framework we propose takes the spatial agglomerative economic model as the starting point, but develops this toward: (1) a dynamic game-theoretic analysis of cities (as infrastructures and protocols) that compete for globally mobile resources, and; (2) a model of cities as two-sided markets (i.e. platforms) seeking to solve matching problems between idiosyncratic resources, (3) neural model of the city based on solving problems through information processing and learning. This suggests a new way of analyzing the mechanism underlying the economic performance of cities and potentially leads to new policy implications.

Keywords: urban economics, two-sided markets, platforms, global economy, world city network, neural networks, neuroeconomics, blockchain

Suggested Citation

Banczyk, Marek and Potts, Jason, City as Neural Platform - Toward New Economics of a City (August 17, 2018). Available at SSRN: https://ssrn.com/abstract=3233686 or http://dx.doi.org/10.2139/ssrn.3233686

Marek Banczyk (Contact Author)

Columbia University ( email )

3022 Broadway
New York, NY 10027
United States

Cityglobe Inc. ( email )

HOME PAGE: http://www.cityglobe.com

Jason Potts

RMIT University ( email )

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