IDEAS home Printed from https://ideas.repec.org/a/kap/jrefec/v45y2012i3p723-753.html
   My bibliography  Save this article

Skyscraper Height

Author

Listed:
  • Jason Barr

    ()

Abstract

This paper investigates the determinants of skyscraper height. First a simple model is provided where potential developers desire not only profits but also social status. In equilibrium, height is a function of both the costs and benefits of construction and the heights of surrounding buildings. Using data from New York City, I empirically estimate skyscraper height over the 20th century. Via spatial regressions, I find evidence for height competition, which increases during boom times. In addition, I provide estimates of which buildings are economically “too tall” and by how many floors. Copyright Springer Science+Business Media, LLC 2012

Suggested Citation

  • Jason Barr, 2012. "Skyscraper Height," The Journal of Real Estate Finance and Economics, Springer, vol. 45(3), pages 723-753, October.
  • Handle: RePEc:kap:jrefec:v:45:y:2012:i:3:p:723-753
    DOI: 10.1007/s11146-010-9274-z
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11146-010-9274-z
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    References listed on IDEAS

    as
    1. Jason Barr, 2010. "Skyscrapers and the Skyline: Manhattan, 1895-2004," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 38(3), pages 567-597.
    2. Kwong-Wing Chau & S.K. Wong & Y. Yau & A.K.C. Yeung, 2007. "Determining Optimal Building Height," Urban Studies, Urban Studies Journal Limited, vol. 44(3), pages 591-607, March.
    3. Bar-Ilan, Avner & Strange, William C, 1996. "Investment Lags," American Economic Review, American Economic Association, vol. 86(3), pages 610-622, June.
    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.
    5. Krishna, Vijay, 2009. "Auction Theory," Elsevier Monographs, Elsevier, edition 2, number 9780123745071.
    6. 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 125-137, March.
    7. Kerry D. Vandell & Jonathan S. Lane, 1989. "The Economics of Architecture and Urban Design: Some Preliminary Findings," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 17(2), pages 235-260.
    8. 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.
    9. John Doiron & James D. Shilling & C.F. Sirmans, 1992. "Do Market Rents Reflect the Value of Special Building Features? The Case of Office Atriums," Journal of Real Estate Research, American Real Estate Society, vol. 7(2), pages 147-156.
    10. Strange William C., 1995. "Information, Holdouts, and Land Assembly," Journal of Urban Economics, Elsevier, vol. 38(3), pages 317-332, November.
    11. Brueckner, Jan K. & Saavedra, Luz A., 2001. "Do Local Governments Engage in Strategic Property-Tax Competition?," National Tax Journal, National Tax Association;National Tax Journal, vol. 54(2), pages 203-230, June.
    12. Peter F. Colwell & M. Shahid Ebrahim, 1997. "A Note on the Optimal Design of an Office Building," Journal of Real Estate Research, American Real Estate Society, vol. 14(2), pages 169-174.
    13. Titman, Sheridan, 1985. "Urban Land Prices under Uncertainty," American Economic Review, American Economic Association, vol. 75(3), pages 505-514, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Manhattan Profits (Part I): The Economics of the Superslim
      by Jason Barr in Building the skyline on 2017-11-19 23:54:32

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Valentina Antoniucci & Giuliano Marella, 2014. "Torri incompiute: i costi di produzione della rigenerazione urbana in contesti ad alta densità," SCIENZE REGIONALI, FrancoAngeli Editore, vol. 2014(3), pages 117-124.
    2. Jason Barr, 2013. "Skyscrapers And Skylines: New York And Chicago, 1885–2007," Journal of Regional Science, Wiley Blackwell, vol. 53(3), pages 369-391, August.
    3. repec:krk:eberjl:v:4:y:2016:i:2:p:37-49 is not listed on IDEAS
    4. Nestor Garza & Colin Lizieri, 2012. "Skyscrapers and the economy," ERSA conference papers ersa12p414, European Regional Science Association.
    5. Barr, Jason & Cohen, Jeffrey P., 2014. "The floor area ratio gradient: New York City, 1890–2009," Regional Science and Urban Economics, Elsevier, vol. 48(C), pages 110-119.
    6. Hans R. A. Koster & Piet Rietveld & Jos N. van Ommerren, 2011. "Is the Sky the Limit? An Analysis of High-Rise Office Buildings," SERC Discussion Papers 0086, Spatial Economics Research Centre, LSE.

    More about this item

    Keywords

    Skyscrapers; Building height; Status; New York City; D44; N62; R33;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • N62 - Economic History - - Manufacturing and Construction - - - U.S.; Canada: 1913-
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrefec:v:45:y:2012:i:3:p:723-753. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.springer.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.