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Limited Developers

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Author Info

  • Robert W. Helsley
  • William C. Strange

Abstract

This paper considers the role of developers in the formation of cities. Existing treatment of the location of economic activity between cities either ignore developers entirely (e.g. Stiglitz 1977) or endow them with limitless power (e.g., Henderson 1988). Reality lies somewhere in between; most cities have been partly shaped by the actions of developers, but even the largest developers are limited. In this paper organizational limits to developers are discussed, and a model of a system of cities is presented in which a land assembly problem may prevent developers from acquiring efficient amounts of land. We examine the consequences of land assembly for land prices, city sizes, and infrastructure provision. We show that limited developers may not attain an efficient allocation of resources.

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Bibliographic Info

Article provided by Canadian Economics Association in its journal Canadian Journal of Economics.

Volume (Year): 30 (1997)
Issue (Month): 2 (May)
Pages: 329-48

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Handle: RePEc:cje:issued:v:30:y:1997:i:2:p:329-48

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Citations

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Cited by:
  1. Gilles Duranton & Diego Puga, 2001. "Nursery Cities: Urban Diversity, Process Innovation, and the Life Cycle of Products," American Economic Review, American Economic Association, vol. 91(5), pages 1454-1477, December.
  2. Gilles Duranton & Diego Puga, . "DIVERSITY AND SPECIALISATION IN CITIES. Why, where and when does it matter?," UFAE and IAE Working Papers 443.99, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  3. Duranton, Gilles & Puga, Diego, 2001. "From Sectoral to Functional Urban Specialization," CEPR Discussion Papers 2971, C.E.P.R. Discussion Papers.
  4. Pierre-Philippe Combes & Gilles Duranton & Henry Overman, 2005. "Agglomeration and the Adjustment of the Spatial Economy," CEP Discussion Papers dp0689, Centre for Economic Performance, LSE.
  5. Henkel, Joachim & Stahl, Konrad & Walz, Uwe, 2000. "Coalition Building in a Spatial Economy," Journal of Urban Economics, Elsevier, vol. 47(1), pages 136-163, January.
  6. Miceli, Thomas J. & Sirmans, C.F., 2007. "The holdout problem, urban sprawl, and eminent domain," Journal of Housing Economics, Elsevier, vol. 16(3-4), pages 309-319, November.
  7. Andrew F. Haughwout & Robert P. Inman, 2004. "How should suburbs help their central cities?," Staff Reports 186, Federal Reserve Bank of New York.
  8. Leon Taylor, 1998. "When will the developer pay an impact fee?," Public Economics 9810004, EconWPA, revised 19 Apr 2003.
  9. Martin F. Quaas & Sjak Smulders, 2012. "Brown Growth, Green Growth, and the Efficiency of Urbanization," CESifo Working Paper Series 4044, CESifo Group Munich.
  10. Massimo Del Gatto, 2004. "Agglomeration, Integration, and Territorial Authority Scale in a System of Trading Cities. Centralisation versus Devolution," Working Papers 2004.93, Fondazione Eni Enrico Mattei.
  11. Martin F. Quaas & Sjak Smulders, 2008. "Pollution and the Efficiency of Urban Growth," Working Papers 2008.75, Fondazione Eni Enrico Mattei.

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