Purpose – This paper aims to build a mathematical model to determine the price of an acre of developable land, whether it is part of a large open tract (farm) or a smaller residential parcel that can legally be subdivided. The primary purpose of the model is to explore the effect of various...

Purpose – This paper aims to build a mathematical model to determine the price of an acre of developable land, whether it is part of a large open tract (farm) or a smaller residential parcel that can legally be subdivided. The primary purpose of the model is to explore the effect of various...

Purpose – The purpose of the study is to test how land owners respond to the appreciation of land values in the presence of speculation. This paper introduces the concept of “land hoarding,” which is land owners' response to higher land prices by selling more land up to a point beyond...

Purpose – The purpose of the study is to test how land owners respond to the appreciation of land values in the presence of speculation. This paper introduces the concept of “land hoarding,” which is land owners' response to higher land prices by selling more land up to a point beyond...