Open AccessAn economic analysis of transferable development rights
Author(s) -
Noboru Sakashita
Publication year - 1998
Publication title -
cybergeo
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.16
H-Index - 16
ISSN - 1278-3366
DOI - 10.4000/cybergeo.351
Subject(s) - economic analysis , business , economics , agricultural economics
Down zoning regulation policy is liked by urban planners as a powerful tool of the urbangrowth control. This policy takes the form of constrained floor-arearatio (FAR) which is set below the FAR determined by a free market, and by doing so it aims to suppress the construction of office buildings within a specific city. For economists it is almost self-evident that such physicalregulation produces inefficiency of resource allocation by distorting free ground-rent formation in the ..