Do Tighter Restrictions on Density Retard Development?

Jyh-Bang Jou () and Tan Lee ()

The Journal of Real Estate Finance and Economics, 2007, vol. 34, issue 2, pages 225-232

Abstract: Williams (1991) builds a real-options model to investigate the timing and the scale decisions of property development. Williams asserts that tighter restrictions on density retard development. This article finds that there are some typos in Williams’s article such that his assertion does not hold in general. In particular, his assertion will not hold as long as the density restrictions are not set too low relative to the density level that would be chosen by landowners in the absence of any regulation. Copyright Springer Science+Business Media, LLC 2007

Keywords: Development density; Real options (search for similar items in EconPapers)
Date: 2007
View list of references View citations in EconPapers

Downloads: (external link)
http://hdl.handle.net/10.1007/s11146-007-9010-5 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:kap:jrefec:v:34:y:2007:i:2:p:225-232

Access Statistics for this article

The Journal of Real Estate Finance and Economics is edited by Steven R. Grenadier, James B. Kau and C.F. Sirmans

More articles in The Journal of Real Estate Finance and Economics from Springer
Series data maintained by Christopher F. Baum ().