IS ZONING A POSITIVE-SUM GAME?

Zoning is typically deemed a negative-sum game accompanied by a call for the establishment of a market for development rights. Using a formal one-stage game of a typical zoning lottery, I demonstrate that zoning is not exclusively negative-sum, but can also be positive-sum, even with internalized so...

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Bibliographic Details
Published in:Studies in economics and finance (Charlotte, N.C.) N.C.), 1998-01, Vol.19 (1/2), p.3-24
Main Author: Asadoorian, Malcolm O.
Format: Article
Language:English
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Summary:Zoning is typically deemed a negative-sum game accompanied by a call for the establishment of a market for development rights. Using a formal one-stage game of a typical zoning lottery, I demonstrate that zoning is not exclusively negative-sum, but can also be positive-sum, even with internalized social costs.
ISSN:1086-7376
1755-6791
DOI:10.1108/eb028750