Optimal regulation on building size and city boundary: An effective second-best remedy for traffic congestion externality
Optimal regulation on building size and city boundary: An effective second-best remedy for traffic congestion externality
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DOI:
10.1016/j.regsciurbeco.2012.02.004
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发表时间:
2012-07-01
影响因子:
3.1
通讯作者:
Yokoi, Takahisa
中科院分区:
文献类型:
--
作者:
Kono, Tatsuhito;Joshi, Kirti Kusum;Yokoi, Takahisa
This paper numerically evaluates the efficiency of regulations on building size and city size in a congested closed city by comparing welfare gain with that achieved under a first-best toll regime. Results show that whereas the urban growth boundary (UGB) is a poor substitute for the toll regime as expected, an optimal regulation on building size in the presence of a suitably chosen UGB yields significant welfare gain, producing an effective substitute for a first-best toll regime. Moreover, the optimal regulation on the building size requires not only downward adjustment to the market population density at the boundary locations but also upward adjustment at the central locations. Crown Copyright (C) 2012 Published by Elsevier B.V. All rights reserved.