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THE PUBLIC ASSIGNMENT OF DEVELOPMENT RIGHTS 1
Author(s) -
Webster Chris
Publication year - 2005
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.2005.00590.x
Subject(s) - property rights , process (computing) , government (linguistics) , property (philosophy) , state (computer science) , law and economics , private property , business , public economics , economics , microeconomics , market economy , computer science , linguistics , philosophy , epistemology , algorithm , operating system
Different planning systems allocate property rights differently between the state and private property owners. This article argues that the appropriate allocation of property rights between the state and private owners can only be discovered by a process of experimentation. The experience of the UK suggests that such a process can take time and may be hindered by the controlling tendencies of central government.