We use panel data, endogenous switching and instrumental variables to assess the externality value of neighborhood home-ownership. Using the cluster samples of the 1985, 1989 and 1993 American Housing Survey, we find some variation in the estimate of this value, depending on the assumptions made...

Using Clark County, Nevada land auction data from the Bureau of Land Management, we find evidence that the price paid per acre to be maximized at approximately 14 acres. We also find that convexity exists on the value-size curve up to approximately 8 acres. We attribute this phenomenon partially...