A unified convex-concave model of urban land values

@article{Ecker2005AUC,
  title={A unified convex-concave model of urban land values},
  author={M. Ecker and Hans R. Isakson},
  journal={Regional Science and Urban Economics},
  year={2005},
  volume={35},
  pages={265-277}
}
  • 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
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