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The effect of quasi-hyperbolic discounting on rural land conversion timing

  • Matthew Jude Salois

This article explores how the presence of a quasi-hyperbolic discount parameter in a land investment model can affect conversion times for undeveloped rural land. A simple model of land development is compared using both exponential discounting and quasi-hyperbolic discounting. The presence of quasi-hyperbolic discounting tends to increase the rate of land conversion and may lead to possible overdevelopment of rural lands.

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File URL: http://hdl.handle.net/10.1080/13504851.2011.607119
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Article provided by Taylor & Francis Journals in its journal Applied Economics Letters.

Volume (Year): 19 (2012)
Issue (Month): 9 (June)
Pages: 887-890

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Handle: RePEc:taf:apeclt:v:19:y:2012:i:9:p:887-890
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