@article{fa634eac9e6e43e3b8d70121631a482a,
title = "Do tighter restrictions on density retard development?",
abstract = "Williams (1991) builds a real-options model to investigate the timing and the scale decisions of property development. Williams asserts that tighter restrictions on density retard development. This article finds that there are some typos in Williams's article such that his assertion does not hold in general. In particular, his assertion will not hold as long as the density restrictions are not set too low relative to the density level that would be chosen by landowners in the absence of any regulation.",
keywords = "Development density, Real options",
author = "Jou, {Jyh Bang} and Tan Lee",
note = "Funding Information: Acknowledgements We would like to thank the editor (James B. Kau), one anonymous reviewer, Ning Gong, and seminar participants at the Asian Finance Association 2005 Annual Conference. Financial support under Grant NSC 90-2416-H-155-027 from the National Science Council, Executive Yuan, R. O. C., is gratefully acknowledged.",
year = "2007",
month = feb,
doi = "10.1007/s11146-007-9010-5",
language = "???core.languages.en_GB???",
volume = "34",
pages = "225--232",
journal = "Journal of Real Estate Finance and Economics",
issn = "0895-5638",
number = "2",
}