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- Title
Quantity premia in real property markets.
- Authors
Tabuchi, Takatoshi
- Abstract
In this paper, a theory of nonlinear pricing is tested using 1993 land market data in residential districts of the Osaka metropolitan area. It is shown that quantity premia prevail in real property markets, i.e., larger lots are proportionately more expensive. This is due to irreversibility in changing tot size and an oligopolistic market structure with nondecreasing marginal utility of lot size.
- Subjects
JAPAN; OSAKA (Japan); ENVIRONMENTAL economics; PRICING; HOUSING development; REAL estate business; REAL property sales &; prices; RESIDENTIAL real estate; LAND economics
- Publication
Land Economics, 1996, Vol 72, Issue 2, p206
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3146966