Abstract
The purpose of this study is to analyze the statistical characteristics of the land price rank-size distribution for theoretical development of land price model or hedonic price function. This research clarified theoretically that the rank-size distribution of land prices, which conformed the lognormal distribution, was the exponential distribution in approximation. From theoretical and statistical verifications, it was clarified that the changes in the slope of the rank-size distribution showed the bubbly changes in land prices, which were influenced by expectations factors. We proposed the directivity of land price model development with using the statistical characteristic of the land price distribution, which was verified by this research.
