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Ground Lease-Based Land Use System versus Common Interest Development


  • F. Frederic Deng


In recent decades, we observe brisk growth of ground lease-based land use systems, such as shopping malls, and Common Interest Developments in retail and residential real estate, respectively. I argue that the ground lease system is an efficient response to the hold-up problem in urban land use because of two facts: the bundled consumption of land and collective goods, and landowners’ limited ex-post mobility. It incorporates the core insight of Henry George view with Tiebout competition. But, due to bundled consumption, different characteristics of retail and residential real estate determine the dominance of the ground lease systems and CIDs, respectively.

Suggested Citation

  • 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.
  • Handle: RePEc:uwp:landec:v:78:y:2002:i:2:p:190-206

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    References listed on IDEAS

    1. Fishback, Price V, 1992. "The Economics of Company Housing: Historical Perspectives from the Coal Fields," Journal of Law, Economics, and Organization, Oxford University Press, vol. 8(2), pages 346-365, April.
    2. Yinger, John, 1982. "Capitalization and the Theory of Local Public Finance," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 917-943, October.
    3. Pashigian, B Peter & Gould, Eric D, 1998. "Internalizing Externalities: The Pricing of Space in Shopping Malls," Journal of Law and Economics, University of Chicago Press, vol. 41(1), pages 115-142, April.
    4. Barzel, Yoram, 1982. "Measurement Cost and the Organization of Markets," Journal of Law and Economics, University of Chicago Press, vol. 25(1), pages 27-48, April.
    5. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
    6. North, Douglass C. & Thomas, Robert Paul, 1971. "The Rise and Fall of the Manorial System: A Theoretical Model," The Journal of Economic History, Cambridge University Press, vol. 31(04), pages 777-803, December.
    7. 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.
    8. Fred E. Foldvary, 1994. "Public Goods And Private Communities," Books, Edward Elgar Publishing, number 167.
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    Cited by:

    1. F. Frederic Deng, 2003. "Collective Goods and the Political Hold-Up Problem," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 159(2), pages 414-434, June.

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    JEL classification:

    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations


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