Expulsion of Magnetic Flux Lines from the Growing Superconducting Core of a Magnetized Quark Star

The expulsion of magnetic flux lines from a growing superconducting core of a quark star has been investigated. The idea of impurity diffusion in molten alloys and an identical mechanism of baryon number transport from hot quark-gluon-plasma phase to hadronic phase during quark-hadron phase transition in the early universe, micro-second after big bang has been used. The possibility of Mullins-Sekerka normal-superconducting interface instability has also been studied.Comment: Thoroughly revised version. Accepted for Astrophysics & Space Scienc

Urban Land Development and its Prices: The Effects of Conversion Costs with Redevelopment

This paper analyzes urban land development when landowners anticipate a future large-scale redevelopment by a third party developer. Landowners' initial development activities can deter such redevelopment because they impose two conversion costs on the redeveloper: demolition costs and landowners' reservation prices. These costs are eventually borne by the landowners when the developers' market is competitive. For the landowners' initial development activities, we analyze both the efficient solution and the noncooperative solution under the Nash equilibrium. In both cases, the possibility of redevelopment results in a lower level of initial development due to the conversion costs, but increases land prices. However, the magnitude of their effects is smaller in the Nash solution due to an externality. The presence of such an externality provides a rationale for zoning and urban planning. Copyright American Real Estate and Urban Economics Association.

Chicago's Office Market: Price Indices, Location and Time

Conventional wisdom holds that overbuilding and high vacancy, coupled with curtailed tax benefits, have led to reduced office property values since the late 1980s. Yet assertions that office real estate values fell between the mid-1980s and mid-1990s are not supported everywhere by convincing evidence. This study offers a hedonic analysis of Chicago area office properties that sold from 1986 through 1993. Whereas earlier office market studies generally have been based on rents, this study focuses on variation in actual sale prices (although the prices were not adjusted for financing differences). The transaction-based index estimated here does not support the existence of a nominal office property price level decline beginning in the mid-to-late 1980s. In fact, the results show an upward trend in office property values after 1986, with nominal declines in office market price levels occurring only in the latter portion of the study period. Copyright American Real Estate and Urban Economics Association.