A COMMENT ON ZONING, RETURNS TO SCALE, AND THE VALUE OF UNDEVELOPED LAND

被引：38
|
作者：
COLWELL, PF [1 ]
SIRMANS, CF [1 ]
机构：
[1] UNIV CONNECTICUT,STORRS,CT 06268
来源：
REVIEW OF ECONOMICS AND STATISTICS | 1993年 / 75卷 / 04期
关键词：
D O I：
10.2307/2110041
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper revisits the relationship between land value and parcel sizse. We demonstrate that, using a simple arbitrage equilibrium argument, the value-size relationship is convex (concave) whenever land assembly (subdivision) is possible. We also explore further the impact of zoning on market outcomes.
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页码：783 / 786
页数：4
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