Quantity Premia in Real Property Markets
利用1993年大阪都市圈住宅区土地市场数据，检验非线性定价理论，发现大块土地按比例更贵，原因是改变地块大小的不可逆性和寡头市场结构。
In this paper, a theory of nonlinear pricing is tested using 1993 land market data in residential districts of the Osaka metropolitan area. It is shown that quantity premia prevail in real property markets, i.e., larger lots are proportionately more expensive. This is due to irreversibility in changing lot size and an oligopolistic market structure with nondecreasing marginal utility of lot size.