... of land and property by a rate of ρ. It means that if the land has a total initial value of x, the development of the infrastructure will give the landowner an additional value of ρx which then creates a total value or payoff of x+ ρx or x(1+ρ...

..., 1997 ; Monk and Whitehead, 1999 ; Rose, 1989). The UK stands out as a country with particularly strict planning regulation, not only in the allocation of land to housebuilding but also, in the mechanisms for granting of permission to build. The development control (DC) system has long been identified...