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date: 29 October 2020

Abstract and Keywords

What do economists know about land-and how do they know? This chapter introduces the Oxford Handbook of Land Economics, arguing that land is a theme that integrates several fields of economics, including natural resource economics, environmental economics, regional science, and urban economics. This integrated approach is needed for at least three reasons. First, partial equilibrium analysis is not always adequate to examine the questions society needs answered. Second, land economic problem settings are often too fluid to warrant the simplification economists seek to derive tight and tractable results, ready lab experiments, and empirically testable theoretically derived results. Third, integrated work may help prevent unexpected suboptimal recommendations. Integration not only occurs within economics but also can occur between economic and noneconomic models. Greater recognition and integration stimulates cross-fertilization among the fields of land economics research. By providing a comprehensive survey of land-related work in several economics fields, this Handbook provides the basic tools needed for economists to redefine the scope and focus of their work to better incorporate the contemporary thinking from other fields and to push out the frontiers of land economics.

Keywords: integrated, structural models, simulation, econometrics, experimental economics

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