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A Strategic Analysis of Urban Renewal in Taipei City Using Game Theory

Author

Listed:
  • Yu-Chih Lin

    (Department of Urban and Public Affairs, University of Louisville, 426 West Bloom Street, Louisville, KY 40208, USA)

  • Feng-Tyan Lin

    (Department of Urban Planning, National Cheng Kung University, No 1, University Road, Tainan City 701, Taiwan, ROC)

Abstract

One of the difficult tasks in urban renewal is land assembly because it requires consent from landowners. The major obstacle for negotiation comes from the fact that some landowners ask higher than market price for their land. The characteristics of landowners are classified into two types according to prospect theory. This study adopts game theory to analyze strategic interaction and negotiation processes between a developer and landowners in Taiwan. The aim of this study is to show the impact of the characteristics of landowners on the implementation of the project and the best strategy for developers to deal with the uncertainty of landowners' characteristics. We found that not only the characteristics of the landowners, but also the strategies adopted by a developer may hinder the implementation of an urban renewal plan.

Suggested Citation

  • Yu-Chih Lin & Feng-Tyan Lin, 2014. "A Strategic Analysis of Urban Renewal in Taipei City Using Game Theory," Environment and Planning B, , vol. 41(3), pages 472-492, June.
    • Handle: RePEc:sae:envirb:v:41:y:2014:i:3:p:472-492
    DOI: 10.1068/b37164
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    References listed on IDEAS

    as
    1. Epstein, Richard A, 1993. "Holdouts, Externalities, and the Single Owner: One More Salute to Ronald Coase," Journal of Law and Economics, University of Chicago Press, vol. 36(1), pages 553-586, April.
    2. Arthur Huang & David Levinson, 2011. "Why Retailers Cluster: An Agent Model of Location Choice on Supply Chains," Environment and Planning B, , vol. 38(1), pages 82-94, February.
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