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Pricing Relocation-Redevelopment Projects for City Expansion
Jiajin Chen1; Rose N. Lai2
2013-07-19
Source PublicationREAL ESTATE ECONOMICS
ISSN1540-6229
Volume41Issue:4Pages:925–957
Abstract

A solution to city expansion under limited land availability is relocation of exist-ing habitants, demolition of existing buildings and redevelopment of new build-ings. In the case of Chinese cities, however, such strategies have become achannel for municipalities to increase their revenue from sale of land and pro-ductivity from increased development, at the expense of low compensation toformer occupants and vacant housing after development. We utilize a sequen-tial real options pricing approach to find conditions when relocation/demolitionand redevelopment in a finite time horizon are optimal and also to show whatfactors the governments can influence to delay or speed up redevelopment.

DOIhttp://doi.org/10.1111/reec.12017
Indexed BySSCI ; SSCI
Language英语
WOS Research AreaBusiness & Economics ; Urban Studies
WOS SubjectBusiness, Finance ; Economics ; Urban Studies
WOS IDWOS:000328549000007
PublisherWILEY-BLACKWELL, 111 RIVER ST, HOBOKEN 07030-5774, NJ USA
The Source to Articlehttps://onlinelibrary.wiley.com/doi/full/10.1111/reec.12017
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Cited Times [WOS]:6   [WOS Record]     [Related Records in WOS]
Document TypeJournal article
CollectionFaculty of Business Administration
Affiliation1.City University of New York, New York, NY 1001
2.Department of Finance and Business Economics, University of Macau, Macau, China
Recommended Citation
GB/T 7714
Jiajin Chen,Rose N. Lai. Pricing Relocation-Redevelopment Projects for City Expansion[J]. REAL ESTATE ECONOMICS,2013,41(4):925–957.
APA Jiajin Chen,&Rose N. Lai.(2013).Pricing Relocation-Redevelopment Projects for City Expansion.REAL ESTATE ECONOMICS,41(4),925–957.
MLA Jiajin Chen,et al."Pricing Relocation-Redevelopment Projects for City Expansion".REAL ESTATE ECONOMICS 41.4(2013):925–957.
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