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It depends of course. A great application is here. HT to Owen O.

2 Responses to “How Many Stories are in a Coasean Skyscraper?”

  1. Harry says:

    Well, WC, I will bite and say I had never known about the air market, and had not thought of the economics of air rights in that way, applying your Coasean implied analysis. That was obscure academic speak.

    I am still puzzled by people who buy a one-bedroom apartment for a million and a half to be able to see planes landing at three airports and look at Central Park, but then again I am a farm boy who has different tastes. It’s a free country and we cowboys can graze our cows on our land and watch them, right?

  2. Michael says:

    If the skyscraper curse is true or if this has all the wonderful characteristics of a bubble, then I’d say it’s a good time to sell as long as you buy it back after the crash (with a reasonable profit, of course).

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