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Dwelling Attribute Forecasts Based on Land Residual Maximization

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  • Scott A. Kinzy

Abstract

This paper uses an implicit market approach to model the highest and best use concept when applied to single-family residential development. Formulated from the landowner's perspective, this persistence forecasting model relies on the theory that the marginal product of a site, as determined by its locational traits, varies with each alternative dwelling type. The dwelling attribute bundle that maximizes its site's marginal product, as measured by the resultant land residual value, becomes that site's "best" use. The empirical results indicate a site's locational attributes can provide reasonable dwelling type forecasts.

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  • Scott A. Kinzy, 1992. "Dwelling Attribute Forecasts Based on Land Residual Maximization," Land Economics, University of Wisconsin Press, vol. 68(4), pages 380-395.
    • Handle: RePEc:uwp:landec:v:68:y:1992:i:4:p:380-395
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    Cited by:

    1. Ogryzek Marek & Wisniewski Radoslaw & Kauko Tom, 2018. "On Spatial Management Practices: Revisiting the "Optimal" Use of Urban Land," Real Estate Management and Valuation, Sciendo, vol. 26(3), pages 24-34, September.

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