A unified convex-concave model of urban land values

  title={A unified convex-concave model of urban land values},
  author={M. Ecker and Hans R. Isakson},
  journal={Regional Science and Urban Economics},
  • M. Ecker, Hans R. Isakson
  • Published 2005
  • Mathematics
  • Regional Science and Urban Economics
  • Abstract This study develops and fits a nonlinear, unified convex–concave model for land sales. The model's flexibility accommodates convexity for small parcels, concavity for large parcels, a non-deterministic change point while accounting for spatial correlation. All parameters are fit simultaneously from a Bayesian perspective using Markov Chain Monte Carlo techniques. Virtually all previous models for land sales are shown to be special cases of the unified model. The results indicate an 86… CONTINUE READING
    15 Citations

    Figures from this paper

    Directional Land Value Gradients
    • 17
    Non-Diversifiable Risk and Quantity Discounts in Taiwanese Urban Land Markets
    • 1
    • PDF
    Multifractal characterization of urban residential land price in space and time
    • 40
    • PDF
    Land Values: Size Matters
    • 2


    Land Prices and Land Assembly in the CBD
    • 72
    A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land
    • 56
    Area, Time, Centrality and the Value of Urban Land
    • 73
    • PDF
    The Relationship between the Price of Land and Size of Plot When Plots are Small
    • 42
    Spatial modeling and prediction under stationary non-geometric range anisotropy
    • 26