The Holdout Problem and Urban Sprawl
AbstractDevelopers attempting land assembly often face a potential holdout problem that raises the cost of development. To minimize this extra cost, developers will prefer land whose ownership is less dispersed. This creates a bias toward development at the urban fringe where average lot sizes are larger, resulting in urban sprawl. This paper examines the link between the holdout problem and urban sprawl and discusses possible remedies.
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Bibliographic InfoPaper provided by University of Connecticut, Department of Economics in its series Working papers with number 2004-38.
Length: 17 pages
Date of creation: Nov 2004
Date of revision:
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Urban sprawl; holdout problem; urban renewal; public use;
Find related papers by JEL classification:
- K11 - Law and Economics - - Basic Areas of Law - - - Property Law
- R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-12-20 (All new papers)
- NEP-GEO-2004-12-20 (Economic Geography)
- NEP-LAW-2004-12-20 (Law & Economics)
- NEP-URE-2004-12-20 (Urban & Real Estate Economics)
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.:
- Brueckner, Jan K., 1997. "Infrastructure financing and urban development:: The economics of impact fees," Journal of Public Economics, Elsevier, vol. 66(3), pages 383-407, December.
- Strange William C., 1995. "Information, Holdouts, and Land Assembly," Journal of Urban Economics, Elsevier, vol. 38(3), pages 317-332, November.
- O'Flaherty, Brendan, 1994. "Land assembly and urban renewal," Regional Science and Urban Economics, Elsevier, vol. 24(3), pages 287-300, June.
- Cohen, Lloyd, 1991. "Holdouts and Free Riders," The Journal of Legal Studies, University of Chicago Press, University of Chicago Press, vol. 20(2), pages 351-62, June.
- McFarlane, Alastair, 1999. "Taxes, Fees, and Urban Development," Journal of Urban Economics, Elsevier, vol. 46(3), pages 416-436, November.
- Florenz Plassmann & T. Nicolaus Tideman, 2007. "Efficient Urban Renewal Without Takings: Two Solutions to the Land Assembly Problem," Working Papers e07-8, Virginia Polytechnic Institute and State University, Department of Economics.
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