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18-033/III - The option value of vacant land and the optimal timing of city extensions


  • Authors
    Rutger-Jan Lange, Erasmus University Rotterdam; Coen Teulings, University of Cambridge
  • Publication date
    March 30, 2018
  • Keywords
    real options, mean-reverting growth, real estate construction
  • JEL
    D81, E22, R11, R30