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The Efficiency of Speculation in Urban Land

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  • D R Capozza

    (University of Southern California, Los Angeles, California 90007, USA)

Abstract

This paper analyzes the effect of speculation in land at the urban periphery on resource allocation. A simple dynamic model of residential location is developed and its properties are analyzed both qualitatively and numerically. One finding is that social costs in a typical city are increased by about three to seven per cent as a result of speculative increases in the value of idle land. Appropriate tax policies are studied.

Suggested Citation

  • D R Capozza, 1976. "The Efficiency of Speculation in Urban Land," Environment and Planning A, , vol. 8(4), pages 411-422, June.
    • Handle: RePEc:sae:envira:v:8:y:1976:i:4:p:411-422
    DOI: 10.1068/a080411
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    References listed on IDEAS

    as
    1. Livesey, D. A., 1973. "Optimum city size: A minimum congestion cost approach," Journal of Economic Theory, Elsevier, vol. 6(2), pages 144-161, April.
    2. Marion Clawson, 1962. "Urban Sprawl and Speculation in Suburban Land," Land Economics, University of Wisconsin Press, vol. 38(2), pages 99-111.
    3. Dennis R. Capozza, 1976. "Forecasting Long‐Run Land use Patterns with an Aggregative Model of Urban Housing and Transportation: The Case of Los Angeles," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 4(1), pages 23-39, March.
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    Cited by:

    1. Mynbaev, Kairat & Ibrayeva, Saniya, 2011. "Housing market of Almaty," MPRA Paper 36683, University Library of Munich, Germany.
    2. Du, Jinfeng & Peiser, Richard B., 2014. "Land supply, pricing and local governments' land hoarding in China," Regional Science and Urban Economics, Elsevier, vol. 48(C), pages 180-189.

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