IDEAS home Printed from https://ideas.repec.org/p/hai/wpaper/198807.html
   My bibliography  Save this paper

Urban Land Price: The Extraordinary Case of Honolulu, Hawaii

Author

Listed:
  • Louis A. Rose
  • Sumner J. La Croix

    (Department of Economics, University of Hawaii at Manoa)

Abstract

The price of land in Honolulu is higher than in any other major U.S. urban area. In this paper we examine several determinants of the supply and demand for land and discuss their likely influence on Honolulu's land price. We utilize comparisons between demand and supply conditions in Honolulu and in the 40 most populous U.S. urban areas to ascertain the strength of the respective determinants. Our regression results confirm that natural and institutional constraints restricting the supply of land play an important role in determining price in Honolulu and in the 40-city sample.

Suggested Citation

  • Louis A. Rose & Sumner J. La Croix, 1988. "Urban Land Price: The Extraordinary Case of Honolulu, Hawaii," Working Papers 198807, University of Hawaii at Manoa, Department of Economics.
  • Handle: RePEc:hai:wpaper:198807
    as

    Download full text from publisher

    File URL: http://www.economics.hawaii.edu/research/workingpapers/88-98/WP_88-7.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Fischel, William A., 1980. "Zoning and the exercise of monopoly power: A reevaluation," Journal of Urban Economics, Elsevier, vol. 8(3), pages 283-293, November.
    2. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    3. Roback, Jennifer, 1982. "Wages, Rents, and the Quality of Life," Journal of Political Economy, University of Chicago Press, vol. 90(6), pages 1257-1278, December.
    4. Kau, James B. & Sirmans, C. F., 1979. "Urban land value functions and the price elasticity of demand for housing," Journal of Urban Economics, Elsevier, vol. 6(1), pages 112-121, January.
    5. Sherman J. Maisel, 1964. "Price Movements Of Building Sites In The United States —A Comparison Among Metropolitan Areas," Papers in Regional Science, Wiley Blackwell, vol. 12(1), pages 47-60, January.
    6. Coase, Ronald H, 1972. "Durability and Monopoly," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 143-149, April.
    7. Hamilton, Bruce W., 1978. "Zoning and the exercise of monopoly power," Journal of Urban Economics, Elsevier, vol. 5(1), pages 116-130, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. S Monk & B J Pearce & C M E Whitehead, 1996. "Land-Use Planning, Land Supply, and House Prices," Environment and Planning A, , vol. 28(3), pages 495-511, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Donald Haurin & David Brasington, 1996. "The Impact of School Quality on Real House Prices: Interjurisdictional Effects," Working Papers 010, Ohio State University, Department of Economics.
    2. Zabel, Jeffrey & Dalton, Maurice, 2011. "The impact of minimum lot size regulations on house prices in Eastern Massachusetts," Regional Science and Urban Economics, Elsevier, vol. 41(6), pages 571-583.
    3. Laurie J. Bates, 1993. "Municipal Monopoly Power and the Supply of Residential Development Rights," Eastern Economic Journal, Eastern Economic Association, vol. 19(2), pages 173-184, Spring.
    4. Dascher, Kristof, 2012. "Home Voters, House Prices, and the Political Economy of Zoning," VfS Annual Conference 2012 (Goettingen): New Approaches and Challenges for the Labor Market of the 21st Century 62069, Verein für Socialpolitik / German Economic Association.
    5. Drew Fudenberg, 2015. "Tirole's Industrial Regulation and Organization Legacy in Economics," Scandinavian Journal of Economics, Wiley Blackwell, vol. 117(3), pages 771-800, July.
    6. Thorson, James A., 1997. "The Effect of Zoning on Housing Construction," Journal of Housing Economics, Elsevier, vol. 6(1), pages 81-91, March.
    7. Kempe, Wolfram, 1996. "Monopoly," SFB 373 Discussion Papers 1997,4, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
    8. Rena Sivitanidou, 1999. "Office Rent Processes: The Case of U.S. Metropolitan Markets," Working Paper 8664, USC Lusk Center for Real Estate.
    9. Bischoff, Oliver, 2012. "Explaining regional variation in equilibrium real estate prices and income," Journal of Housing Economics, Elsevier, vol. 21(1), pages 1-15.
    10. Ned Levine, 1999. "The Effects of Local Growth Controls on Regional Housing Production and Population Redistribution in California," Urban Studies, Urban Studies Journal Limited, vol. 36(12), pages 2047-2068, November.
    11. Kok, Nils & Monkkonen, Paavo & Quigley, John M., 2014. "Land use regulations and the value of land and housing: An intra-metropolitan analysis," Journal of Urban Economics, Elsevier, vol. 81(C), pages 136-148.
    12. Committee, Nobel Prize, 2014. "Market power and regulation (scientific background)," Nobel Prize in Economics documents 2014-2, Nobel Prize Committee.
    13. Kristof Dascher, 2011. "Beggar Thy Neighbour?," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 12(2), pages 132-150, May.
    14. Mark Partridge & M. Rose Olfert & Alessandro Alasia, 2007. "Canadian cities as regional engines of growth: agglomeration and amenities," Canadian Journal of Economics, Canadian Economics Association, vol. 40(1), pages 39-68, February.
    15. Jianqiang Zhang & Weijun Zhong & Shue Mei, 2012. "Competitive effects of informative advertising in distribution channels," Marketing Letters, Springer, vol. 23(3), pages 561-584, September.
    16. Chul‐Woo Kwon & Peter F. Orazem & Daniel M. Otto, 2006. "Off‐farm labor supply responses to permanent and transitory farm income," Agricultural Economics, International Association of Agricultural Economists, vol. 34(1), pages 59-67, January.
    17. Rodrigo M. S. Moita & Claudio Paiva, 2013. "Political Price Cycles in Regulated Industries: Theory and Evidence," American Economic Journal: Economic Policy, American Economic Association, vol. 5(1), pages 94-121, February.
    18. Scott Gehlbach & Konstantin Sonin & Ekaterina Zhuravskaya, 2010. "Businessman Candidates," American Journal of Political Science, John Wiley & Sons, vol. 54(3), pages 718-736, July.
    19. Colas, Mark & Saulnier, Emmett, 2023. "Vertical migration externalities," Regional Science and Urban Economics, Elsevier, vol. 101(C).
    20. Andrés Rodríguez-Pose & Michael Storper, 2020. "Housing, urban growth and inequalities: The limits to deregulation and upzoning in reducing economic and spatial inequality," Urban Studies, Urban Studies Journal Limited, vol. 57(2), pages 223-248, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hai:wpaper:198807. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Web Technician (email available below). General contact details of provider: https://edirc.repec.org/data/deuhius.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.