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