Do tighter restrictions on density retard development?

Journal
Journal of Real Estate Finance and Economics
Journal Volume
34
Journal Issue
2
Pages
225-232
Date Issued
2007
Author(s)
DOI
URI
Abstract
Williams (1991) builds a real-options model to investigate the timing and the scale decisions of property development. Williams asserts that tighter restrictions on density retard development. This article finds that there are some typos in Williams's article such that his assertion does not hold in general. In particular, his assertion will not hold as long as the density restrictions are not set too low relative to the density level that would be chosen by landowners in the absence of any regulation. © Springer Science+Business Media, LLC 2007.
Type
journal article
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