Optimal Land Development with Endogenous Environmental Amenities
构建了一个空间显性模型，研究土地开发与水质之间的动态相互作用，发现忽略双向互动会导致水质下降、开发增加和社会福利降低，并提出了通过征收影响费来实现最优开发节奏和模式。
Abstract A spatially explicit model of the optimal timing and location of land development is presented that incorporates dynamic interactions between land development and water quality. Ignoring two‐way interactions leads to a lower level of water quality, more development, and lower social welfare. The optimal pace and pattern of development can be achieved through the assessment of an impact fee that internalizes pollution damages and irreversibility costs. Our results demonstrate the importance of accounting for the spatial dimension of land use, the interdependence between land use and environmental quality, and development irreversibility in models of urbanization and amenity‐driven growth.