A Comment on Zoning, Returns to Scale, and the Value of Undeveloped Land
重新审视土地价值与地块大小的关系，通过简单套利均衡论证，指出当土地可合并或分割时，价值与规模的关系呈凸或凹性，并进一步探讨分区对市场结果的影响。
This paper revisits the relationship between land value and parcel size. The authors demonstrate that, using a simple arbitrage equilibrium argument, the value-size relationship is convex (concave) whenever land assembly (subdivision) is possible. They also explore further the impact of zoning on market outcomes. Copyright 1993 by MIT Press.