THE ECONOMICS OF COMPLEX SYSTEMS: THE CASE OF MUNICIPAL ZONING*
| ISSN: |
1467-6435
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| Source: |
Blackwell Publishing Journal Backfiles 1879-2005
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| Topics: |
Sociology
Economics
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| Notes: |
This paper studies the problem of achieving an optimal allocation of land resources in an urban area. In particular, the study is focused on the extent to which decentralized decision-making via a price regime can be relied upon to produce optimal solutions in both simple situations and those characterized by externalities, indivisibilities, and non-convexities. Linear and non-linear programming and non-zerosum gam theory are used in an effort to determine proper institutional arrangements for acceptable solutions and to rationalize a type of zoning constraints. One of the conclusions is that the more complex the situation and the greater the characteristic value of various coalitions, the less the desirability of complete decentralization of decisions and the greater the desirability of a pricing device which operates under certain constraints.
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| Type of Medium: |
Electronic Resource
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| URL: |