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Risk Analysis in Land Development
Author(s) -
Peiser Richard B.
Publication year - 1984
Publication title -
real estate economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.064
H-Index - 61
eISSN - 1540-6229
pISSN - 1080-8620
DOI - 10.1111/1540-6229.00308
Subject(s) - subdivision , development (topology) , land development , set (abstract data type) , property (philosophy) , scale (ratio) , land use , risk analysis (engineering) , computer science , economics , econometrics , environmental resource management , business , geography , mathematics , engineering , cartography , civil engineering , mathematical analysis , philosophy , archaeology , epistemology , programming language
Land development poses a different set of risks from income‐producing property. This paper explores the nature of land development risk with particular reference to large‐scale subdivision development. Because several major variables in land development analysis are correlated, meaningful risk analysis requires that intercorrelation be explicitly recognized and incorporated into simulations. A case study is presented which demonstrates the application of risk analysis to land development and the handling of intercorrelation among random variables.