21-022/IV - The option value of vacant land: Don't build when demand for housing is booming


  • Authors
    Rutger-Jan Lange, Erasmus School of Economics; Coen N. Teulings, Utrecht University
  • Publication date
    February 24, 2021
  • Keywords
    irreversible investment, mean-reverting growth, real-estate construction, real options, urban growth
  • JEL
    D81, G12, R14, R31, R51