Speculative behavior in vacant land development: evidence for real options in Malaysia

• Main Authors: Razak, Muhammad Zaim, Khalid, Haniza, Mohamad, Azhar
• Format: Article
• Language: English; English; English
• Published: Wiley 2018
• Subjects: HD101 Land use
• Online Access: http://irep.iium.edu.my/67918/1/Zaim%20et%20al%202018%20%28Developing%20Economies%29.pdf; http://irep.iium.edu.my/67918/12/67918_Zaim%20et%20al%202018%20%28Developing%20Economies%29_scopus.pdf; http://irep.iium.edu.my/67918/17/67918%20Speculative%20Behavior%20in%20Vacant%20Land%20Development%20WOS.pdf; http://irep.iium.edu.my/67918/; https://onlinelibrary.wiley.com/doi/10.1111/deve.12184
• Institution: Universiti Islam Antarabangsa Malaysia

The development of vacant land may be seen from a real options perspective—owners of vacant land have the incentive to delay developing the land and keep their options open (keep the lands undeveloped) if they believe that future development will yield higher value. We investigate whether there is...