The Efficiency of Speculation in Urban Land

Dennis Capozza

Environment and Planning A, 1976, vol. 8, issue 4, 411-422

Abstract: This paper analyzes the effect of speculation in land at the urban periphery on resource allocation. A simple dynamic model of residential location is developed and its properties are analyzed both qualitatively and numerically. One finding is that social costs in a typical city are increased by about three to seven per cent as a result of speculative increases in the value of idle land. Appropriate tax policies are studied.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:sae:envira:v:8:y:1976:i:4:p:411-422

DOI: 10.1068/a080411

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