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Transaction Costs and the Land Use Planning Process

Georgia Institute of Technology

Urban scholars have recently begun to employ transaction costs as a heuristic device to understand the land use planning process. This emphasis on transaction costs can be traced to Ronald H. Coase’s "The Problem of Social Cost," an article that calls into question the traditional market failure justification for public policy intervention. This article reviews the normative debate surrounding the Coase Theorem and the effects of this debate on positive analyses of the land use planning process. An emphasis on the transaction costs of public policy intervention provides a useful framework for understanding the private demand for land use plans, the organizational dimension of land use plan implementation, and the impact of alternate land use planning systems on the land development decisions of private landowners.

Journal of Planning Literature, Vol. 14, No. 4, 507-518 (2000)
DOI: 10.1177/08854120022092809


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