Land values as the social construction of scarcity

Benjamin Davy
Land values reflect the social construction of scarcity. The polyrational theory of property and land values (B. Davy 2012 and 2014) helps planners and other policymakers understand how different perceptions of land values influence scarcity judgments. The notion of exchange value explains scarcity in terms of demand exceeding the supply of land in desirable locations. The notion of use value explains scarcity with respect to the range of individual and social utility (J. Bentham) or...
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