Residential Development,Risk, and Land Prices

This paper examines the relationship between the residential development sequence and land price. Inherent in the dynamics of residential development is that the first consumers face the greatest risk since they do not know with certainty what the neighborhood characteristics will be; subsequent consumers have more information. The model predicts that land prices will rise over time relative to the market; developers offer the first consumers discounted land prices to compensate them for the first-mover disadvantage. The empirical evidence indicates that this is indeed the case.     

Reviews

THE PAPUA‐NEW GUINEA ELECTIONS 1964. David Bettism, Colin Hughes and Paul van der Veur (eds.) Canberra, Australian National University Press, 1965. Pp. xi + 545. $A 9.00.

SEARCH FOR NEW GUINEA'S BOUNDARIES: FROM TORRES STRAIT TO THE PACIFIC. Paul van der Veur. Canberra, Australian National University Press, 1966. Pp. xii + 178. $A 6.30.

DOCUMENTS AND CORRESPONDENCE ON NEW GUINEA'S BOUNDARIES. Paul van der Veur. Canberra, Australian National University Press, 1966. Pp. 212. $A 3.90.

BURMA: FROM KINGDOM TO INDEPENDENCE. Frank N. Trager. London, Pall Mall Press, 1966. Pp. xiii + 455. $A 10.90.

THE POLITICS OF THE THIRD WORLD. J. D. B. Miller. London, Oxford University Press for the Royal Institute of International Affairs, 1966. Pp. xiv + 126. $A2.15.

IRONIES OF HISTORY, ESSAYS IN CONTEMPORARY COMMUNISM. Isaac Deutscher. Oxford University Press, 1966. Pp. vii + 278. $A 5.80.

SOVIET AFFAIRS NUMBER FOUR. St. Antony's Papers No. 19. Michael Kaser (ed.). Oxford University Press, 1966. Pp. 156. $A5.10.

A DECADE OF COMMONWEALTH 1955–1964. W. B. Hamilton, Kenneth Robinson and C. D. W. Goodwin (eds.). Durham, N.C., Duke University Press, 1966. Pp. xx + 567. (US) $12.50.

THE HISTORIOGRAPHY OF THE BRITISH EMPIRE‐COMMONWEALTH. Robin W. Winks (ed.). Durham N.C., Duke University Press, 1966. Pp. xiv + 596. (US) $12.50.

TEST BAN AND DISARMAMENT: THE PATH OF NEGOTIATION. Arthur H. Dean. New York, Harper and Row, 1966. Pp. xiii + 153. (U.S.) $3.50.

DETERRENCE AND THE ATLANTIC ALLIANCE. Albert Legault. Toronto, Canadian Institute of International Affairs, 1966. Pp. xv + 103. $2.00 (Canadian).

STRATEGIC POWER AND SOVIET FOREIGN POLICY. Arnold L. Horelick and Myron Rush. Chicago, The University of Chicago Press, 1966. Pp. xii + 225. (U.S.) $5.95.

NEW FEDERATIONS: EXPERIMENTS IN THE COMMONWEALTH. R. L. Watts. Oxford at the Clarendon Press, 1966. Pp. xii + 417 + Maps. $A 10.90.     

Leadership in Absentia: Negotiating Distance in Centralized Solomon Islands

This article examines a tension at the heart of national leadership in Solomon Islands today: a conviction that national leaders need to spend more time in rural environments to better represent rural interests, needs and values, while having to be in town to access the individuals and organizations that, essentially, make them national leaders in the first place. Drawing on fourteen months of ethnographic fieldwork in urban Honiara and the rural Lau Lagoon, Malaita, we are especially interested in how this tension shapes rural perceptions of the legitimacy of chiefs as national leaders. Given that development projects can only be negotiated in Honiara, where the required state institutions, international (N)GOs and major businesses are based, rural residents feel compelled to send their most important village leaders, especially clan chiefs, to town. However, the longer these leaders are away from their homes, the more they seem distracted by urban ‘luxuries’ and the less they appear committed to their rural homes. In particular, villagers complain about their chiefs' contributions to exchange relations. Villages, thus, find themselves in a double‐bind that exaggerates a broader ‘crisis of leadership’ alongside an urban‐rural divide which challenges the promise of chiefly leadership as solution to antipolitical sentiments and a centralized state.