This paper revisits the relationship between land value and parcel size. The authors demonstrate that, using a simple arbitrage equilibrium argument, the value-size relationship is convex (concave) whenever land assembly (subdivision) is possible. They also explore further the impact of zoning on market outcomes.
No takes yet. Share an insight, caveat, or question.
Colwell et al. (1993) studied this question.
Synapse has enriched one closely related paper. Consider it for comparative context: