Q1: Which city group enjoys the largest value-added effects from urban rail transit? Which group enjoys the least?
A1: First-tier cities enjoy the largest value-added effects while second-tier cities enjoy the least.
Q2: What can proximity to urban rail transit stations bring to second-hand house sellers?
A2: Higher bargaining power.
Q3: What is the tradeoff of constructing urban rail transit?
A3: Urban rail transit can bring significant economic benefits and increase the overall social welfare. However, households enjoy these advantages at the cost of rising real property prices and negative externalities (noise, crowded area, air pollution, etc.).