search query: @author Capozza, D. R. / total: 4
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| Author: | Amin, K. Capozza, D. R. |
| Title: | Sequential development |
| Journal: | Journal of Urban Economics
1993 : NO. 3. p. 142-158 |
| Index terms: | LAND USE URBAN PLANNING PRICING LAND VALUES |
| Language: | eng |
| Abstract: | One of the most interesting issues in economics is the conversion of land to alternative uses or densities. Decisions to convert land determine the pricing and spatial structure or urban areas. An analysis of the economic effect of urban policies like zoning or growth control must include the impact on conversion decisions. Unfortunately a fully rational analysis that incorporates the stochastic nature of urban cash flows and the possibility of multiple future redevelopments is very complex. This paper analyzes the impact or multiple conversions under certainty on the value and density of urban land relative to models with only one conversion. We find that even with only one additional conversion, land values are 10-15 per cent higher. |
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