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Overview
The book draws together the economic literature relating to the supply of land for development. The standard view appears to be that the owners of land have no interest other than to allow their land to be used for the activity which would yield the highest income. But in reality this is not so and the book's aim is to demonstrate this, to set out the reasons and to show the economic effects of the fact that landowners have other motives.The book covers the supply of land for urban development and shows how land has characteristics which differentiate it from other factors of production which will also affect its supply for some uses, e.g. land is fixed in location and its price and value are inseparable from where it is.
New light is cast on the market for land (by concentrating on the supply side), and on land use planning (by taking an economic viewpoint).
Synopsis
The book draws together the economic literature relating to the supply of land for development. The standard view appears to be that the owners of land have no interest other than to allow their land to be used for the activity which would yield the highest income. But in reality this is not so and the book's aim is to demonstrate this, to set out the reasons and to show the economic effects of the fact that landowners have other motives.
The book covers the supply of land for urban development and shows how land has characteristics which differentiate it from other factors of production which will also affect its supply for some uses, e.g. land is fixed in location and its price and value are inseparable from where it is.
New light is cast on the market for land (by concentrating on the supply side), and on land use planning (by taking an economic viewpoint).
Editorials
From the Publisher
Excellent in the way it brings together in a coherent whole, various approaches to the analysis of the supply of land for development. The issues covered are pertinent for both practitioners and academics in providing a useful theoretical framework based on sound economics. The book is well written and enjoyable to read.Journal of Property Investment and Finance, September 2005.
'This is an ambitious and important contribution to the literature on the economic theory of land markets. I see this book as an outstanding contribution to urban economics.' Land Economics