Dissertations / Theses on the topic 'Development land prices'

This thesis aims at understanding how manufacturers' heterogeneity affects the configuration of trading relations and prices in a dynamic environment. The institutional context I study is that of the Ready Made Garment sector in Bangladesh over the 2005 - 2012 period. The research here represents a contribution to that goal in four dimensions. First, accessing customs records we constructed a dataset containing buyer - seller trade interactions at a disaggregated level, including volumes and unit prices of the traded goods and, for a subsample, prices and quantities of the inputs required for manufacturing them. This feature allows us to go a step further than most studies based on matched importer - exporter data and opens a fruitful research agenda. Second, using this dataset I offer a first characterisation of the dynamics of the relations between manufacturers and large international buyers in matters of (i) duration of the relations, (ii) evolution of volumes, prices, orders and profitability over time, (iii) heterogeneity of the manufacturers and (iv) the probability of trading links arising. I �nd that relations with large buyers tend to be exclusive, that higher prices are associated with longer lasting relations, which tend to grow over time and fail whenever the manufacturer starts dealing with another large player. Importantly, I present a characterisation of suppliers heterogeneity novel in the literature and show evidence on two salient facts: the higher the heterogeneity across suppliers faced by a buyer, the more persistent its relations are and the higher the markup the buyer is willing to pay. Third, I develop a dynamic discrete choice game of linking and bargaining that realises those patterns in the data. I implement an algorithm that computes Markov Perfect Equilibria to discuss aspects of computation, convergence and multiple equilibria in the game and I scan a large parameter space to characterise the mechanisms that drive the dynamics in the industry. Fourth, I present the structural approach developed by Lee and Fong (2013) for estimating network formation games with endogenous bargaining and discuss three aspects in which its application is not immediate in my setting. These are related to (i) the availability of prices in our data, (ii) the difficulties in recovering conditional choice probabilities from the data, and (iii) the construction of the distance score. These difficulties lead to a pseudo Monte Carlo exercise that compares (sixteen) alternative estimation procedures. This preliminary study suggests that restricting the objective function to the observed states, using an auxiliary parametric assumption on the conditional choice probabilities in unobserved states and exploiting the data on prices could be fertile paths to explore towards adapting Lee and Fong's approach to estimate structurally the parameters of my game with the data we constructed.

Dissertation (PhD)--Stellenbosch University, 2003.
ENGLISH ABSTRACT: The dissertation firstly outlines the findings of recent studies that have recorded the relationship between transport and economic development. This includes the assessment of a number of economic evaluation techniques that are available to predict the impact of improvements in transport on economic development. An historic overview is provided of the role that transport has played in the development of Cape Town. Due to the fact that the phases of development followed international development trends, it is concluded that development in Cape Town will follow the global trend. A number of economic growth scenarios are developed for Cape Town to assess how the City will be able to cope with the socio-demographic challenges facing it in the next century. The relationship between land price and the economic development potential of land is outlined, as are the factors that determine industrial land price, namely the demand and supply of industrial land. The process of determining the economic value of industrial land is described. This includes the collection and analysis of occupation rent of industrial townships in Cape Town, the calculation of property values and the calculation of the shadow price of land. A procedure of determining accessibility to industrial townships in Cape Town was developed. Firstly, accessibility was defined in broad terms. This was followed by a discussion of each of the elements of accessibility namely proximity, access and mobility in order to understand the factors that may impact on the level of accessibility. Finally, the level of accessibility is quantified in terms of generalised cost. A regression analysis was undertaken to establish a statistical relationship between the economic value of industrial land and accessibility to the industrial townships. The development of a numerical model was based on the regression analyses to forecast changes in industrial land price given a change in accessibility. The model was then tested on a case study. The main conclusions of the study are as follows: (a) The accessibility of industrial land in Cape Town is linked closely to its CSD I Port (it was not possible to separate the CSD and the port), which is typical of a monocentric city structure. (b) There is a positive, significant, quantifiable relationship between accessibility as quantified by means of generalised cost and the economic value of industrial land, which was calculated by means of the shadow price technique. (c) There are a number of conditions that should be met for an increase in local industrial production potential to be translated into an equal amount of economic output.
AFRIKAANSE OPSOMMING: Die proefskrif som eerstens die bevindings van onlangse studies op wat die verwantskap tussen vervoer en ekonomiese ontwikkeling dokumenteer. Dit sluit die taksering van 'n aantal ekonomiese evaluasietegnieke in wat beskikbaar is om die impak van vervoer op ekonomiese ontwikkeling te voorspel. 'n Historiese oorsig word verskaf van die rol wat vervoer gespeel het in die ontwikkeling van Kaapstad. As gevolg van die feit dat die fases van ontwikkeling in die verlede internasionale ontwikkelingstendense gevolg het, word tot die gevolgtrekking gekom dat Kaapstad die globalisasie markera, wat tans internasionaal gestalte kry, sal navolg. 'n Aantal ekonomiese groeiscenarios word vir Kaapstad ontwikkel ten einde te bepaal hoe die stad die sosiodemografiese uitdagings van die volgende eeu sal hanteer. Die verwantskap tussen grondprys en die ekonomiese ontwikkelingspotensiaal van grond word omskryf, asook die faktore wat industriële grondprys bepaal. Die proses van die bepaling van die ekonomiese waarde van industriële grond word beskryf. Dit sluit die insamel en analise van besettingshuurdata van industriële dorpsgebiede, die berekening van eiendomswaarde en die berekening van die skaduprys van grond in. 'n Prosedure is ontwikkel vir die berekening van die toeganklikheid van industriële dorpsgebiede in Kaapstad. Eerstens is toeganklikheid in breë trekke gedefinieër. Dit is gevolg deur 'n bespreking van elk van die elemente van toeganklikheid, naamlik nabyheid, aansluiting en mobiliteit ten einde die faktore wat op die vlak van toeganklikheid mag impakteer te verstaan. Laastens is die vlak van toeganklikheid gekwantifiseer in terme van veralgemeende vervoerkoste. 'n Regressie-analise is onderneem ten einde die statistiese verwantskap tussen die ekonomiese waarde van industriële grond en toeganklikheid na industriële dorpsgebiede te bepaal. Die ontwikkeling van 'n numeriese model is op die regressie-analise gebaseer ten einde veranderinge in industriële grondpryse te voorspel, gegewe 'n verandering in toeganklikheid. Die model is op 'n gevallestudie toegepas. Die vernaamste gevolgtrekkings van die studie is : (a) Die toeganklikheid van industriële grond in Kaapstad is nou gekoppel aan die sentrale sakekern I hawe (dit was nie moontlik om die sentrale sakekern en hawe te skei nie), wat tipies is van n monosentriese staduitleg. (b) Daar is n noemenswaardige positiewe kwantifiseerbare verwantskap tussen toeganklikheid, soos gekwantifiseer in terme van veralgemeende koste, en die ekonomiese waarde van industriële grond wat deur middel van die skaduprystegniek bereken is. (c) Daar is 'n aantal voorwaardes waaraan voldoen moet word alvorens 'n toename in plaaslike industriële produksiepotensiaal tot 'n soortgelyke toename in ekonomiese ontwikelingspotensiaal sal lei.

This master’s thesis deals with analysis of documents for the realization of the new buildings the wider area of Brno. It is divided into the theoretical part and the empirical part. The theoretical part describes defines and characterize different stages of implementation of building plots in the framework of utility lines and roads on agricultural land (greenfields), designated for residential housing. In the empirical part goals and methodology of the research project are mentioned and it is divided into two parts. The first part is devoted to case studies comparing and analyzing the costs and revenues of the developer selected localities of satellite towns. The second part is focused on the actual development of land prices. It points to items affecting profit or loss of the developer. In the last chapter the author of this thesis describes creating a preliminary calculation, which the developer can determine whether a satellite town of the selected project will be successful or not. In conclusion, the thesis points out important factors affecting the project success of the satellite town.

The dissertation is focused on current issues in the connection with the rental price of land and construction land maps, which are addressed to practice. It deals with an overview of the development of rental and price charts in the Czech Republic and abroad. The basic precondition of the dissertation is the existence of data dealing with the relationship between rents and the usual (market, global) price of land in the price map in the Czech Republic. This area, the relationship of rents and land prices, has not yet been fully explored. The unavailability of this data can result in questioning the expert opinions for example in court proceedings. The conclusions of the dissertation illustrate, how interdependent ground rent with the price specified in price map constructions of land. The percentage of the relation I have determined to both individual cities (Prague, Brno, Olomouc), and all the Czech Republic as a whole.

This is a summary of doctoral dissertation. Dissertation represents analysis of agricultural land markets development. The analysis was performed by proposing a complex analytical model system and applying it for the investigation of land market development and evolution in Lithuania.
Tai yra daktaro disertacijos santrauka. Disertacijoje pateikiama žemės ūkio paskirties žemės rinkų raidos analizė, pagal apžvelgtą teorinę medžiagą pasiūlant kompleksinę tyrimų schemą ir pritaikant ją Lietuvos žemės rinkos kūrimuisi ir vystymuisi tirti.

The diploma thesis analyzes the development of agricultural land prices examines the development of agricultural land in the Hodonín district in 2015-2018. Three databases of comparative samples are created for the thesis - according to the source (realized sales, execution sales and offer sales), which are subsequently analyzed and examined. The result is our own findings and conclusions, including the price index, which are compared and confronted with public aggregated data.

Disertacijoje pateikiama žemės ūkio paskirties žemės rinkų raidos analizė, pagal apžvelgtą teorinę medžiagą pasiūlant kompleksinę tyrimų schemą ir pritaikant ją Lietuvos žemės rinkos kūrimuisi ir vystymuisi tirti. Rinkų raida nagrinėjama keturiais detalumo lygmenimis: šalies, regioniniu, vietiniu ir specialiuoju (miestų plėtros veikiamų teritorijų) mastu. Pasiūlomi ir pagrindžiami matematiniai sąryšius aprašantys modeliai, pateikiamos darbo išvados ir siūlymai.
Dissertation represents analysis of agricultural land markets development. The analysis was performed by proposing a complex analytical model system and applying it for the investigation of land market development and evolution in Lithuania. Land market development is analysed at 4 levels: state, regional, local and special (in territories affected by urban sprawl). Mathematical models are proposed and validated for the description of relationship and interconnections in land market. From results of the models, conclusions and some suggestions were made.

In this dipoma is priced selected lend and administrative costs by pricing regulation and market price, which is performed by a professional estimate using the comparsion (comparative) method. A case study is considered prices of land in connection with changes in the landscape plan and implementation strategy for rural development. It was also evaluated the degree to which the emergence of zoning and development of services and facilities in rural areas affects the amount of land prices.

Subject of this thesis is the valuation of golf courses with the verification of possible application of Naegeli class method. The solution includes a description of individual objects located on golf courses used for this sport. Application of Naegeli class method will be carried out in both theoretical and practical way. Result will be compared with the use of other conventional valuation methods, eventually estimate as well. According to the achieved results, a standard expert valuation process using Naegeli class method will be proposed.

This thesis survey on juxtaposition choice waies evaluation for real property type residence and non-residential space in locality Lesná, where there are built - up type sectional construction namely more - housing type J. Are here used most common manners evaluation for these print real property. On top enclosed is several formulation of several estate agency (juxtaposition offers with demand) in given to locality. Further also design documentation housing periods in type panel building.

博士
國立政治大學
地政研究所
96
This study mainly assumes that development of vacant land give rise to spatial externalities from the reuse of vacant land and the institution of land readjustment. Finally, this effect will be reflected in the residential land prices. To test this hypothesis, this study applies spatial econometric and geographic information systems based on hedonic pricing model. This study mainly includes that (1) The Impact of Reusing Vacant Land on Residential Land Prices, ( 2) The Impact of Reusing Vacant Land and Neighboring Land Development on Newly-Built Residential Land Prices, ( 3) The Impact of Spatial Externalities, Transaction Costs and Land Readjustment on Newly-Built Residential Land Prices, and evidence from Tainan City in Taiwan. First of all, about’ The Impact of Reusing Vacant Land on Residential Land Prices’, This study is based on Geoghegan’s theoretical model (2002) and focuses on open space effect of reusing vacant land on residential land prices. The data are selected from residential land prices in 2004, 2005. Empirically, I find that the reuse of publicly-owned vacant land used for green and park has positive spatial spillover effects. This means that spillover benefit of open space is more than spillover cost of vacant land management. The reuse of privately-owned vacant land used for sport has negative spatial spillover effects in 2004. The marginal price of publicly-owned vacant land is over than privately-owned vacant land. It is concluded that, the government should continue promoting the reuse of publicly-owned vacant land and used for open space of the neighborhood. Secondly, about’ The Impact of Reusing Vacant Land and Neighboring Land Development on Newly-Built Residential Land Prices’, This study focuses on open space effect of reusing vacant land and spatial spillover effect of neighboring land development on newly-built residential land prices. The data are selected from newly-built residence in 2004. Empirically, I find that the reuse of publicly-owned vacant land has positive spatial spillover effects on newly-built residential land prices. This means that spillover benefit of open space is more than spillover cost of vacant land management. Land development used for residence has positive spatial spillover effects and used for factory has negative spatial spillover effects in a neighborhood. This means that more the reuse of publicly-owned vacant land will increase newly-built residential land prices, while more land development used for factory will decrease newly-built residential land prices in a neighborhood. Finally, about’ The Impact of Spatial Externalities, Transaction Costs and Land Readjustment on Newly-Built Residential Land Prices’, This Study mainly assumes that land readjustment can reduce transaction costs in terms of the spatial externalities from developers’ behavior and the institution of land readjustment. This effect will be reflected in the newly-built residential land prices. To test this hypothesis, I apply spatial econometric analysis and geographic information systems based on the Box-Cox hedonic pricing model. The data are selected from newly-built residence from between 1991, 1996 and 2001. Empirically, I find that the spatial error Box-Cox model is appropriate for engaging in spatial externalities analysis. This is because the results show that land readjustment gives rise to positive spatial externalities on newly-built residential land prices and the marginal price of residential land in areas where land readjustment takes place is also positive. The effects of developers’ interactions give rise to positive spatial externalities but these change to negative spatial externalities in relation to newly-built residential land prices in the long term. It is concluded that, land readjustment as implemented by the government really does contribute to reducing uncertainty in the land development process, and also reduces transaction costs between construction practitioners and landlords.

Rapid urbanization is a pressing issue for planners, policymakers, transportation engineers, air quality modelers and others. Due to significant environmental, traffic and other impacts, the process of land development highlights a need for land use models with behavioral foundations. Such models seek to anticipate future settlement and transport patterns, helping ensure effective public and private investment decisions and policymaking, to accommodate growth while mitigating environmental impacts and other concerns. A variety of land use models now exist, but a market-based model with sufficient spatial resolution and defensible behavioral foundations remains elusive. This dissertation addresses this goal by developing and applying such a model. Real estate markets involve numerous interactive agents and real estate with a great level of heterogeneity. In the absence of tractable theory for realistic real estate markets, this research takes a “bottom-up” approach and simulates the behavior of tens of thousands of individual agents based on actual data. Both the supply and demand sides of the market are modeled explicitly, with endogenously determined property prices and land use patterns (including distributions of households and firms). Notions of competition were used to simulate price adjustment, and market-clearing prices were obtained in an iterative fashion. When real estate markets reach equilibrium, each agent is aligned with a single, utility-maximizing location and each allocated location is occupied by the highest bidding agent(s). This approach helps ensure a form of local equilibrium (subject to imperfect information on the part of most agents) along with useroptimal land allocation patterns. The model system was applied to the City of Austin and its extraterritorial jurisdiction. Multiple scenarios reveal the strengths and limitations of the market simulation and available data sets. While equilibrium prices in forecast years are generally lower than observed or expected, the spatial distributions of property values, new development, and individual agents are reasonable. Longer-term forecasts were generated to test the performance the model system. The forecasted households and firm distributions in year 2020 are consistent with expectations, but property prices are forecasted to experience noticeable changes. The model dynamics may be much improved by more appropriate maximum bid prices for each property. More importantly, this work demonstrates that microsimulation of real estate markets and the spatial allocation of households and firms is a viable pursuit. Such approaches herald a new wave of land use forecasting opportunities, for more effective policymaking and planning.
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碩士
輔仁大學
金融與國際企業學系金融碩士在職專班
102
Land Consolidation Area to go to a certain size, be sure to go through the gestation period - the construction phase - seeking a total of - maturity, and you want to go to mature for at least 11 years. Prices will not foam, in addition to the time required by the chain and the impact of interest rate quenching factors, redistricting mere bit, surrounding traffic are the major factors. Land Consolidation Area success stories include Xinyi District and the new board, DC. Select the houses of Land Consolidation Area, the proposal should have as a priority the following five considerations: (a) need to have an international business center. (b) the location of the central or municipal governments. (c) for the convenient traffic or transit must pass through. (d) the location of parks and campuses. (e) the district has planned a number of major projects. In order to avoid re-zoning irrational prices and rising interest rates impact housing prices rise, suggested the government to amend the relevant provisions of tax and land tax, property tax, and for the impact of interest rates rising develop countermeasures to mitigate re-zoning gradually pushed prices problems on the domestic economy and have a significant impact.

碩士
國立成功大學
都市計劃學系碩博士班
94
When the MRT was introduced into the city, it will be through steps of planning ,designing , construction and electrical engineering ,etc, among them there are some policies like route change or site selection could lead to the fluctuation in land price , and major traffic construction usually bring about a lot of effect on the development of land use in the surrounding area, the land price has been the theme discussed by scholars in the past time ,and most of the research was about the influence factor on the space more in the past, but it is more scarce to observe the continuous influence of MRT on the land price of every year. So this research wants to do the detailed discussion to the land price change over the years after MRT was announced to build up, and try to tell some phenomenon and characteristics from the data recording, and then apply time series model (ARIMA) to predict the change of land price caused by MRT. This research utilize land price announced by department of land to take place of real trade price to proceed to analyze the influence caused by MRT. Every steps of the MRT policy discussed in this research will repeat while any other city wants to build MRT, so the achievement of this article can support some newly-built MRT to be the precedent of land use development of the city.

Thesis (Ph. D.)--Florida State University, 2003.
Advisor: Dr. Charles Connerly, Florida State University, College of Social Sciences, Dept. of Urban and Regional Planning. Title and description from dissertation home page (viewed Oct. 2, 2003). Includes bibliographical references.

碩士
國立政治大學
地政學系
104
Prior research studying price premium of auctioned land mainly focused on the difference between reserve price and bid price. By estimating market price of auctioned land, we can further evaluate the price premium of auctioned land. In addition, few studies discussed the development decision of auctioned land. However, market has seen a significant amount of undeveloped land. We attempt to analyze the factors which determine auctioned land to be developed or remain idle. By means of retrospective appraisal, we regard the price evaluated by the approach of land development analysis as the market price of auctioned land. The empirical result reveals that over 90% of auction samples indicate price premium which suggests the estimated market price is higher than bid price. In light of this finding, the lack of estimated market price of auctioned land prevent us from assessing price premium of auctioned land accurately. Through the optimal timing of urban land development, we also examine the decision of land development. The result shows that the vast majority of both developed and undeveloped land have gained growth in value if they remain idle for a period of time prior to development. In fact, nearly 70% of auctioned land are still undeveloped. If the government aims to promote idle land to be developed by raising land value tax, it will take 612 years for the tax to be effective. Namely, increasing current land holding cost does not push much pressure on land owner to develop his land. Moreover, we find that the profits the land owners gain through transactions of land is more than the price they paid for it. In conclusion, the land owners can realize a handsome profit through developing under no financial pressure.

碩士
逢甲大學
都市計畫所
99
Abstract There are various successful cases throughout the development history of Taiwan’s cities regarding the relocation of vast areas of traffic infrastructures and their exploitations afterwards. As domestic administrative division regulations combined and promoted Taichung City and County as a single municipal city. Taichung City government has set up a multi-functional Development Project for Taichung Gateway Park. The case was based on a “one third business、one third park、one third Culture and Education” principle. Apart from the fact that it releasing large amounts of land in a short period of time due to development use, it also altered the economic benefits and forms of land usage on the original sites, meanwhile affecting land price surrounding the area. The determination of land cost and price formation of the of trading prices are involved with multiple complex factors, such as the existing quantity and the flow variation of land resources, the supply and demand relationships, long and short-term issues, land development costs, social costs, land tax policies, treasury and financial policies and major city construction developments. Therefore, based on the city development policies triggered by the establishment of the multi-functional commerce district, the following essay is focused on the issues regarding to both social welfare and wealth distribution. The rise of land price changes due to the overall economy, regional Development and the base of individual factors such as the three properties, through industry,government,the analysis of academic experts and scholars. This survey is targeted to identify the factors that have contributed to the variations of nearby land price and the factors that have certain impacts on the land price of the Taichung Gateway Park City to comprehend the differences between the market investments and allocations. Key words：Taichung Gateway Park、The land price variation factor、Analytic Hierarchy Process (A.H.P.)、Land Development

碩士
國立高雄大學
創意設計與建築學系碩士班
102
In order to ensure the openness, fairness and impartiality of real estate transactions, the government promulgated, and has implemented, the actual price registration system for real estate transactions since August, 2012. This study takes revealed cases after the implementation of the system as samples to conduct a multiple regression analysis with the Hedonic Price Method on these reliable and authentic transaction prices, to explore the relevance between factors affecting real estate prices and the real estate prices themselves. The aim is to reduce heuristic-driven biases caused by the fact that real estate appraisers may be subject to factors such as information and seniority. This study also collects cases of public property auctions to explore the relevance between sold prices of public property and those of private lands, to verify the necessity of amending Article 23 of Regulations on Real Estate Appraisal. This study uses four different forms of regression models: linear form, semi-log form, log-linear form and log-log form. It chooses the log-log form of the regression model as the one with the best goodness of fit. The result shows that significant explanatory variables affecting land prices include: width of adjacent roads; terrain, width and depth of land parcels; floor area ratio; land ownership; and location of land parcels. It also shows that in the linear form, log-linear form and log-log form of regression models, there is a significant and positive relevance between sold prices of public property and those of private lands. It means that when the sold prices of public property are higher than those of private lands, there is a possibility that the prices of private lands will be driven upward.

碩士
崑山科技大學
房地產開發與管理研究所
104
Functions of agricultural lands are production but also recreation and amenity for living under the trend of exurbanization development. Transaction and price of agricultural land will probably change. This article establishes hedonic price equation of agricultural land by the data of real estate transaction declaration in order to discuss transaction price determining factors. The study finds price of agricultural land is negative correlation to distance away from central city, distance away from system interchange of highway and that price of agricultural land is also negative correlation to distance away from natural landscape. The price of agricultural land is not only relative to productive factors but also nonproductive factor, so we may conclude the phenomenon of different kinds of agricultural land demand do exist under the trend of exurbanization development. Keywords: exurbanization , hedonic price equation, real estate transaction declaration

碩士
崑山科技大學
房地產開發與管理研究所
105
Tainan City was selected as the low-carbon model city in South Taiwan on August 4, 2011 which was promoted by the Environmental Protection Administration Executive Yuan. As the Jiu-Fen-Zi replotting zone is about to be developed, the city government regards this new development zone as a low-carbon demonstration area. It is hoped that the concept and model of eco-community development will be introduced and the overall development of the future will be guided by the "eco-waterfront community" by setting relevant provisions of "Land Use Zoning control" and "Regulations on Urban Design Review" in order to enhance the "future development benefits" of the area. This study is focused on lands in the Jiu-Fen-Zi replotting zone in Tainan City. In this study, it was found that the land auction prices of the replotting zone was significantly higher than the land prices sold by other private land owners and the sell- out rate of land was decreasing. The floor area ratio of residential district 6-1 is higher than residential district 4-1(the difference is 70%), but the auction price just has a little different. It implied that the land use density of floor area ratio doesn’t have impact on the land price. This research want to explore the auction prices of lands in the Jiu-Fen-Zi replotting zone and the suitable product position based on market point of view. This study attempts to explore the impact of land prices from the "Land Use Zoning Control" and "Regulations on Urban Design Review". Secondly, we compare the auction price of the offset-expenditure land and the market price of the general land, using the land development analysis method and the constructor in-depth interview method to research the proper product type for the constructor in the replotting zone. The result shows that constructors will choose the type of product with a small size and high unit price as a suitable product position in order to get a reasonable profits with respect to the higher cost of land coming from auction. The suggestions of this study can be kept for government to effectively recoup their development costs and accelerate the development of replotting zone as a reference.

The aim of the diploma thesis is to evaluate the real estate market in the segment of agricultural land. This work evaluates the general characteristics of this segment, but also the factors that influence the price of agricultural land. The thesis results are graphic, map and tabular outputs showing the various factors that affect the price of agricultural soil and analysis of these data.

While decision-making under uncertainty is a major universal problem, its implications in the field of transportation systems are especially enormous; where the benefits of right decisions are tremendous, the consequences of wrong ones are potentially disastrous. In the realm of highway systems, decisions related to the highway configuration (number of lanes, right of way, etc.) need to incorporate both the traffic demand and land price uncertainties. In the literature, these uncertainties have generally been modeled using the Geometric Brownian Motion (GBM) process, which has been used extensively in modeling many other real life phenomena. But few scholars, including those who used the GBM in highway configuration decisions, have offered any rigorous justification for the use of this model. This thesis attempts to offer a detailed analysis of various aspects of transportation systems in relation to decision-making. It reveals some general insights as well as a new concept that extends the notion of opportunity cost to situations where wrong decisions could be made. Claiming deficiency of the GBM model, it also introduces a new formulation that utilizes a large and flexible parametric family of jump models (i.e., Lévy processes). To validate this claim, data related to traffic demand and land prices were collected and analyzed to reveal that their distributions, heavy-tailed and asymmetric, do not match well with the GBM model. As a remedy, this research used the Merton, Kou, and negative inverse Gaussian Lévy processes as possible alternatives. Though the results show indifference in relation to final decisions among the models, mathematically, they improve the precision of uncertainty models and the decision-making process. This furthers the quest for optimality in highway projects and beyond.