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Skyscraper Height

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Author Info
Jason Barr ()

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Abstract

This paper investigates the determinants of skyscraper height. First a simple model is provided where potential developers desire not only profits but also status, as measured by their rank in the height hierarchy. The optimal height in equilibrium is a function of the cost and benefits of building as well as the height of surrounding buildings. Using data from New York City, I empirically estimate skyscraper height over the 20th century. The results show that the quest for status has increased building height by about 15 floors above the non-status profit maximizing height. In addition, I provide estimates of which buildings are "too tall" and by how many floors.

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File URL: http://andromeda.rutgers.edu/~econnwk/workingpapers/2008-002.pdf
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Publisher Info
Paper provided by Department of Economics, Rutgers University, Newark in its series Working Papers Rutgers University, Newark with number 2008-002.

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Length: 38 pages
Date of creation: Feb 2008
Date of revision:
Handle: RePEc:run:wpaper:2008-002

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Postal: 360 Dr. Martin Luther King, Jr. Blvd., Newark, NJ 07102
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Web page: http://andromeda.rutgers.edu/~econnwk/
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Related research
Keywords: Skyscrapers; building height; status; New York City;

Other versions of this item:

Find related papers by JEL classification:
D24 - Microeconomics - - Production and Organizations - - - Production; Capital and Total Factor Productivity; Capacity
D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
N62 - Economic History - - Manufacturing and Construction - - - U.S.; Canada: 1913-
R33 - Urban, Rural, and Regional Economics - - Production Analysis and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

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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. Strange William C., 1995. "Information, Holdouts, and Land Assembly," Journal of Urban Economics, Elsevier, vol. 38(3), pages 317-332, November. [Downloadable!] (restricted)
  2. Jason Barr, 2007. "Skyscrapers and the Skyline: Manhattan, 1895-2004," Working Papers Rutgers University, Newark 2007-002, Department of Economics, Rutgers University, Newark. [Downloadable!]
  3. Case, Karl E & Shiller, Robert J, 1989. "The Efficiency of the Market for Single-Family Homes," American Economic Review, American Economic Association, vol. 79(1), pages 125-37, March. [Downloadable!] (restricted)
    Other versions:
  4. Ed Hopkins & Tatiana Kornienko, 2004. "Running to Keep in the Same Place: Consumer Choice as a Game of Status," American Economic Review, American Economic Association, vol. 94(4), pages 1085-1107, September. [Downloadable!]
    Other versions:
  5. Bar-Ilan, Avner & Strange, William C, 1996. "Investment Lags," American Economic Review, American Economic Association, vol. 86(3), pages 610-22, June. [Downloadable!] (restricted)
  6. Helsley, Robert W. & Strange, William C., 2008. "A game-theoretic analysis of skyscrapers," Journal of Urban Economics, Elsevier, vol. 64(1), pages 49-64, July. [Downloadable!] (restricted)
  7. Titman, Sheridan, 1985. "Urban Land Prices under Uncertainty," American Economic Review, American Economic Association, vol. 75(3), pages 505-14, June. [Downloadable!] (restricted)
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This page was last updated on 2009-11-22.

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