A multi-disciplinary interpretation of migration: amenity capitalization in both land and labor markets.

"Various disciplines have produced models to explain and predict human migration. A model is presented providing a taxonomy through which interdisciplinary insights can be synthesized. The imperfect information view emphasizes the role of wage differentials as representing arbitragible real utility differentials. The perfect information approach holds that wage and rent differentials are compensating differentials, eliminating real utility variation over space.... Empirical results [for the United States] are presented which support the latter equilibrium view.... The increasing relative importance of amenities as a determinant of migration [is suggested]."