Collective Goods and the Political Hold-Up Problem
By extending the incomplete-contract model to the provision of local collective goods, this paper analyzes the political hold-up problem in urban land use. The model focuses on three-party contractual relationships and analyzes the effects of wage and rent capitalization, symmetric or asymmetric. The findings indicate that, in the face of uncertainty in collective-goods provision, it is efficient to integrate landowner and collective-goods provider, as demonstrated by the growth of the ground lease system and common-interest developments in recent decades. Rent capitalization further strengthens the result. Similarities and differences between urban institutions and the firm are also discussed.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 159 (2003)
Issue (Month): 2 (June)
|Contact details of provider:|| Web page: https://www.mohr.de/jite|
|Order Information:|| Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany|
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.:
- Alex Anas & Richard Arnott & Kenneth A. Small, 1998.
"Urban Spatial Structure,"
Journal of Economic Literature,
American Economic Association, vol. 36(3), pages 1426-1464, September.
- Anas, Alex & Arnott, Richard & Small, Kenneth A., 1997. "Urban Spatial Structure," University of California Transportation Center, Working Papers qt835049q3, University of California Transportation Center.
- Richard Arnott & Alex Anas & Kenneth Small, 1997. "Urban Spatial Structure," Boston College Working Papers in Economics 388., Boston College Department of Economics.
- Yoram Barzel & Tim R. Sass, 1990. "The Allocation of Resources by Voting," The Quarterly Journal of Economics, Oxford University Press, vol. 105(3), pages 745-771.
- DiPasquale, Denise & Glaeser, Edward L., 1999.
"Incentives and Social Capital: Are Homeowners Better Citizens?,"
Journal of Urban Economics,
Elsevier, vol. 45(2), pages 354-384, March.
- Denice DiPasquale & Edward L. Glaeser, 1997. "Incentives and Social Capital: Are Homeowners Better Citizens?," Harvard Institute of Economic Research Working Papers 1815, Harvard - Institute of Economic Research.
- Denise DiPasquale & Edward L. Glaeser, 1998. "Incentives and Social Capital: Are Homeowners Better Citizens?," NBER Working Papers 6363, National Bureau of Economic Research, Inc.
- F. Frederic Deng, 2002. "Ground Lease-Based Land Use System versus Common Interest Development," Land Economics, University of Wisconsin Press, vol. 78(2), pages 190-206.
When requesting a correction, please mention this item's handle: RePEc:mhr:jinste:urn:sici:0932-4569(200306)159:2_414:cgatph_2.0.tx_2-k. 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: (Thomas Wolpert)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 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.