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A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land

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  • Colwell, Peter F
  • Sirmans, C F
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    Abstract

    This paper revisits the relationship between land value and parcel size. The authors demonstrate that, using a simple arbitrage equilibrium argument, the value-size relationship is convex (concave) whenever land assembly (subdivision) is possible. They also explore further the impact of zoning on market outcomes. Copyright 1993 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 75 (1993)
    Issue (Month): 4 (November)
    Pages: 783-86

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    Handle: RePEc:tpr:restat:v:75:y:1993:i:4:p:783-86

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    Web page: http://mitpress.mit.edu/journals/

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    Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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    Cited by:
    1. Ecker, Mark D. & Isakson, Hans R., 2005. "A unified convex-concave model of urban land values," Regional Science and Urban Economics, Elsevier, vol. 35(3), pages 265-277, May.
    2. Thorsnes, Paul, 2000. "Internalizing Neighborhood Externalities: The Effect of Subdivision Size and Zoning on Residential Lot Prices," Journal of Urban Economics, Elsevier, vol. 48(3), pages 397-418, November.
    3. Colwell, Peter F. & Munneke, Henry J., 1997. "The Structure of Urban Land Prices," Journal of Urban Economics, Elsevier, vol. 41(3), pages 321-336, May.
    4. David Albouy & Gabriel Ehrlich, 2012. "Metropolitan Land Values and Housing Productivity," NBER Working Papers 18110, National Bureau of Economic Research, Inc.
    5. Jeanty, Pierre Wilner & 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).
    6. Tsai, Jyh-Fa & Chu, Chih-Peng, 2006. "Economic analysis of collecting parking fees by a private firm," Transportation Research Part A: Policy and Practice, Elsevier, vol. 40(8), pages 690-697, October.
    7. M. Du Preez & M.C. Sale, 2011. "The impact of social housing developments on nearby property prices: A Nelson Mandela Bay Case Study," Working Papers 241, Economic Research Southern Africa.
    8. 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 & North American Association of Sports Economists.

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