Do Tighter Restrictions on Density Retard Development? |
| |
| Authors: | Jyh-Bang Jou Tan Lee |
| |
| Institution: | (1) Graduate Institute of National Development, National Taiwan University, No. 1 Roosevelt Rd. Sec. 4, Taipei, 106, Taiwan, Republic of China;(2) Department of International Business, Yuan Ze University, No. 135 Yuan-Tung Rd., Chung-Li, Taoyuan, 320, Taiwan, Republic of China |
| |
| 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. |
| |
| Keywords: | Development density Real options |
| 本文献已被 SpringerLink 等数据库收录！ |
|
