Land prices and land assembly in the CBD

There is substantial empirical evidence of price concavity in the parcel-si ze dimension across land-use types and across urban regions. This article e xamines the degree to which concavity varies between the Central Business D istrict (CBD) and the rest of the urban area. The article provides strong e mpirical support that the degree of concavity within the CBD is lower than in the rest of the county. Although concavity may be the dominant pricing r elationship throughout most urban areas, there is some evidence of the pres ence of a convex price structure within the urban center.