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An Empirical Analysis of the Determinants of the Value of Vacant Land

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Author Info
Hans R. Isakson (Department of Finance The University of Northern Iowa Cedar Falls, Iowa 50614-0124)
Abstract

This study extends the literature that investigates the use of buyer and seller characteristics in traditional hedonic price equation regressions. This study adds to the existing literature on the relationship between parcel size and price, coined plattage by Colwell and Sirmans (1980). The results reveal statistically significant buyer and seller effects. Also, the results confirm the existence of the plattage effect and reveal a statistically significant change in the plattage effect over time. The findings of this study should prove useful to those interested in the behavior of land markets on an urban fringe.

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File URL: http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol13n02/v13p103.pdf
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Publisher Info
Article provided by American Real Estate Society in its journal Journal of Real Estate Research.

Volume (Year): 13 (1997)
Issue (Month): 2 ()
Pages: 103-114
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Handle: RePEc:jre:issued:v:13:n:2:1997:p:103-114

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Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323
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Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323
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Find related papers by JEL classification:
L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb.. [Downloadable!] (restricted)
  2. Kanemoto, Yoshitsugu & Nakamura, Ryohei, 1986. "A new approach to the estimation of structural equations in hedonic models," Journal of Urban Economics, Elsevier, vol. 19(2), pages 218-233, March. [Downloadable!] (restricted)
  3. Epple, Dennis, 1987. "Hedonic Prices and Implicit Markets: Estimating Demand and Supply Functions for Differentiated Products," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 59-80, February. [Downloadable!] (restricted)
  4. Bartik, Timothy J., 1986. "Neighborhood revitalization's effects on tenants and the benefit-cost analysis of government neighborhood programs," Journal of Urban Economics, Elsevier, vol. 19(2), pages 234-248, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Gabriel Ahlfeldt & Wolfgang Maennig, 2007. "Impact of Sports Arenas on Land Values: Evidence from Berlin," Working Papers 0703, International Association of Sports Economists. [Downloadable!]
  2. Gabriel Ahlfeldt & Wolfgang Maennig, 2008. "Award-Winning Architecture and Urban Revitalization: The Case of “Olympic Arenas” in Berlin-Prenzlauer Berg," Working Papers 0814, International Association of Sports Economists. [Downloadable!]
  3. Jeanty, Pierre W. & Kraybill, David S. & Libby, Lawrence W. & Sohngen, Brent, 2002. "Effects Of Local Development Pressure On Land Prices: A Spatial Economic Approach," 2002 Annual meeting, July 28-31, Long Beach, CA 19767, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
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