Rethinking of City Planning Law by Econimics

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The intervention in the real estate market by city planning law is based on the hypothesis of public sector’s information advantage over the private sector. In Japan, it is very important to control the urban growth in depopulation and ageing society. But the policy which restricts the urban boundary and finance the cost of infrastructure on per capita basis will not achieve efficient result. The impact fee which imposes marginal cost of infrastructure on the developer will approve the efficiency. We analyze that hypothesis by field experiment.