Consider the application of the demand-revealing process to land assembly that we discussed in class. We defined D as the developers offer for the combined area of all parcels, ai as the governments estimate of value of parcel i as a share of the value of all parcels Vi as owner is reservation price for his parcel Wi = aiD Vi as the amount that owner i is willing to pay to have the developer assemble the parcels if he receives the amount aiD for his property. (a) What is the condition that determines whether or not the developer should assemble the parcels?
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