| The Journal of Real Estate Finance and Economics | |
| Volume 18, Issue 2, Article 2 (Abstract) | |
| Title: | Land Prices and Land Assembly in the CBD |
| Author: | Peter F. Colwell and Henry J. Munneke |
| Abstract: | There is substantial empirical evidence of price concavity in the parcel size dimension across land use types and across urban regions. this paper examines the degree to which concavity varies between the CBD and the rest of the urban area. The paper provides strong empirical support that the degree of concavity within the CBD is lower than in the rest of the county. Although concavity may be the dominant pricing relationship throughout most urban areas, there is some evidence of the presence of a convex price structure within the urban center. |
| Keywords: | land prices, land assembly, nonlinear pricing |