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The paper makes new contributions to cost analysis and minimization of movement-based location management schemes in wireless communication networks. The main contributions of the paper are three-fold. First, we consider two different call handling models, that is, the call plus location update (CPLU) model and the call without location update (CWLU) model. We point out that all existing analysis of location update cost of a movement-based location management scheme (MBLMS) do not accurately capture the essence of the two models. Second, we analyze the exact location update cost of an MBLMS under both CPLU and CWLU models using a renewal process approach which has rarely been used before. We find that the location update cost of an MBLMS under the CWLU model is much easier to analyze than that of an MBLMS under the CPLU model. Furthermore, an MBLMS operated under the CWLU model has lower location update cost than an MBLMS operated under the CPLU model. Third, we are able to derive a closed form solution to the movement threshold that minimizes the total cost of location management in an MBLMS for the CPLU model when the inter-call time has an arbitrary distribution and the cell residence time has an Erlang distribution, and for the CWLU model when both inter-call time and cell residence time have arbitrary distributions. Such closed form solutions have not been available in the existing literature.