Optimal statute of limitations under land development timing decisions

Jyh Bang Jou, Charlene Tan Lee

研究成果: 雜誌貢獻期刊論文同行評審

摘要

In a recording title system, a landowner faces two risks: the risk of a claim from a previously dispossessed owner and risk of being dispossessed by adverse possession, squatting, or encroachment. In this study, we build a real options model to investigate the issues regarding the optimal statute of limitations. In the absence of any uncertainty, a longer statute of limitations delays land development, and thus a regulator may allow for a more lenient policy of statutory limitations for land located in the suburb than in the city center. At any given location, greater uncertainty in urban rents will cause a landowner to wait longer. Anticipating this outcome, the regulator should shorten the statute of limitations to increase the likelihood for the current owner to retain title.

原文???core.languages.en_GB???
頁(從 - 到)1-20
頁數20
期刊Annals of Regional Science
62
發行號1
DOIs
出版狀態已出版 - 13 2月 2019

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