Spontaneous orders are all around us. These have been defined as resulting from human action rather than human design. Prominent examples include language, th e common law, the scientific process, the various applications of the internet, and the market economy – all of them important...

Since the option to redevelop a property is valuable, ground leased property should trade at adiscount relative to fee simple property because of the impairment of the value of that optionresulting from the foreshortened horizon of the leaseholder. This discount would be over andabove the...

Prices of existing houses peaked in southern California during the second quarter of 1990 andpreceded a lengthy recession. This paper examines the response of homebuilders in a masterplanned community in the suburban Los Angeles region to the end of the boom and the onsetand deepening of the...

In Los Angeles, and the United States in general, the defining trend of economic redevelopment projects has been the displacement of low-income communities. Considering this history, the 2001 Community Benefits Program - an agreement between a developer and a coalition of community groups and...

Traditional assimilation theory predicts immigrant adaptation into society as a function of catching up to status of U.S.-born non-Hispanic white households. Recent Taiwanese immigrants, rather than climbing socioeconomic ladders overtime, may have surpassed the socioeconomic status of whites...

Discussions of economic growth require an examination of the role of cities. It is widely claimed that c ities exi st because they facilitate economic growth and development . Spatial concentrations reduce transactions cost s . There are additional benefits gained as positive spillover effects...

This paper examines the impact of living in ethnic enclaves in different parts of the metropolitan area on low-skilled Latino immigrants’ employment accessibility. It does so by comparing the employment status and commuting times of Latinos living in and out of ethnic neighborhoods in...

Art galleries serve several important functions within the art industry. Economically, galleries are loci of arts consumption, generally focusing on visual arts such as painting and sculpture. If artists visit galleries to learn about their peers’ work, galleries may also contribute to...

This paper, using 1990 census microdata, investigates immigrants’ residential location choices that are relevant to urban sprawl. Regression models of two location choices are separately estimated, in which households choose from areas with different levels of residential density and new...

Public space is examined from the perspective of economic goods, defined by ‘rivalness’ and ‘excludability’, to explain the reasons for the ‘narrative of loss’ through this framework. The explanation is twofold – the first part deals with the...