that bid values play in the decision to develop land over time and under uncertainty. We first delineate a simple decision … compute the expected value of the bid that results in land development when this decision rule is followed by the landowner …

development decision when a landowner has an exogenously given reservation level of revenue. In particular, we show that the …

development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or …

development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or …

development decision when a landowner has an exogenously given reservation level of revenue. In particular, we show that the …

model in which the development decision is indivisible. Very recently, this study has been extended to analyze the … decision when this decision is divisible. As such, this article has two goals. First, I discuss the divisible land development … divisibility on the land development decision over time and in the presence of uncertainty …

development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or …

development. It is clear that the magnitude of the reservation value has a fundamental bearing on the decision to develop or …

Classical household theory predicts that adolescents facing a developed labour market should invest in formal education …